Hitachi admits to LCD price-fixing charges

Hitachi has been fined $31m for its part in a price-fixing scandal

Hitachi has become the latest electronics manufacturer to be fined in a price fixing conspiracy that dates back as far as 2001.

The US Department of Justice (DoJ) said that the Japanese firm had agreed to plead guilty to felony price-fixing charges and pay a $31m (£22m) fine.

Hitachi was one of four manufacturers that conspired to charge system vendors such as Dell and Apple artificially high market rates for components in TFT-LCD displays, according to the DoJ.

Hitachi's dealings are said to have been limited to Dell for a period of roughly three years between 2001 and 2004.

The fine is by far the smallest handed out to a company involved in the price-fixing scandal. Late last year, LG Display agreed to pay $400m (£291m) for its role in the conspiracy, while Sharp paid $120m (£87m) and Chunghwa $65m (£47m).

Several executives within the companies also pleaded guilty, and were sentenced to jail and fines ranging from $20,000 to $50,000 (£14,500 to £36,300).

"Hitachi joins three other multinational companies who have admitted to their involvement in fixing prices for LCD panels sold to US companies, and that have already paid criminal fines totalling more than $585m [£425m]," said Scott Hammond, acting assistant attorney general in charge of the DoJ's anti-trust division.

"This case should send a strong message to multinational companies operating in the US that, when it comes to enforcing US anti-trust laws, we mean business. "