Taiwan firm fined $220m

WASHINGTON: A Taiwan maker of liquid crystal display panels has agreed to plead guilty and pay a fine of $220 million for its role in a price-fixing conspiracy, the US Justice Department has said.

Chi Mei Optoelectronics, based in Tainan, Taiwan, is the latest company to face charges in a wide-ranging price-fixing investigation that has led to charges against electronics executives from Japan, South Korea and Taiwan.

The Justice Department, in a statement yesterday, said Chi Mei was charged with one count of price fixing in a US District Court in San Francisco.

Besides pleading guilty to the charge and agreeing to pay the fine, the department said Chi Mei has agreed to cooperate with its ongoing anti-trust investigation.