Hitachi / LG hit with $21M fine related to price collusion and fixing scheme.
The U.S. District Court in San Fransisco on Tuesday accepted the plea from Hitachi-LG Data Storage and sentenced the company to a $21.1 million fine, after pleaded guilty in a price fixing probe related to optical disc drives.
A 15-count felony charge was filed late September in U.S. District Court in San Francisco against Hitachi-LG Data Storage, a joint venture between Hitachi Ltd., and LG Electronics Inc. Of the 14 counts, seven charged Hitachi-LG Data Storage with conspiring with others to suppress and eliminate competition by rigging bids on optical disk drives sold to... etc.
Maybe THIS is why blu ray drives haven't fallen in price... Sony & Toshiba are also suspected of cheating the major PC builders in a scheme to defraud by price collusion. This would HAVE to be talking about blu ray.. since the price of dvd drives has been dirt cheap and low all year...