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© beisea dreamstime.com Electronics Production | September 24, 2012

AU Optronics receives massive price-fixing fine

AU Optronics has been fined 500 million USD by a U.S court for price-fixing.
Along with the fine, which is payable over three years, two former AUO executives and a president were sentenced to three years in jail. Taiwan's AU Optronics has said it will appeal the decision. “The Company expresses it regrets on the judgment and intends to lodge an appeal. Although the judgment is subject to appeal, the Company plans to recognize the amount of the fine as imposed in the current quarter in accordance with the relevant accounting principles. After deducting the provisions previously made by the Company for this matter, the Company will recognize an additional provision for approximately US$223 million in the current quarter,” a statement by the company said. Other companies have already plead guilty to price fixing related to the case, and AU Optronics was the only company to go to trial. LG Display Co., Chunghwa Picture Tubes, Chi Mei Optoelectronics Corp. and Sharp Corp have all received a combined 890 million in fines.
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