More from the Taiwan TFT-LCD price fixing scandal. Earlier this month a federal grand jury in San Francisco began to make moves against Chi Mei for its involvement in a global LCD screen price fixing conspiracy along with other manufacturers. Now another marketing director, this time from HannStar, is in the doghouse.
Jui Hung Wu, former HannStar global sales and marketing director, pleaded guilty to a count of price fixing and will serve seven months in jail, reports Reuters. He’ll also have to pay a $20,000 fine which is, as far as we know, fixed. He got off lightly. He was facing a maximum penalty of a million dollar fine.
AU Optronics executives recently got taken to the cleaners too but the price fixing seemed to go deep into the company rather than a shifty bloke in marketing. LG, Sharp, Seiko Epson, Chunghwa and Hitachi are all also accused.
It follows the formal charging from the Department of Justice of 18 executives over eight companies along with US affiliates. Panel manufacturers had been talking to each other to keep prices at friendly levels for a healthy profit, while happily screwing over all of their many global customers.