U.S. media report Samsung Electronics, Sharp and five other makers of liquid crystal display panels have agreed to pay 539 million U.S. dollars to settle claims accusing them of creating an illegal international price-fixing scheme.

Of the damages, 501 million dollars will be paid to consumers while 37 million dollars will go to U.S. state governments and public agencies.

In 2007, the LCD panel makers faced a class action suit that claims that they conspired to raise the prices of their products from 1996 to 2006.

The plaintiffs include the eight U.S. states of Arkansas, California, Florida, Michigan, Missouri, New York, West Virginia and Wisconsin.