The maximum quantization error has serious effect on the performance of fixed-width multipliers that receive W-bit inputs and produce W-bit products. In this paper, the error bound offered-width modified Booth multiplier is analyzed. Then, we present a design method that can be used to reduce the maximum error. By simulations, it is shown that the performance of the proposed fixed-width multiplier is close to that of the multiplier with rounding scheme. Also, by an FIR filter example, it is shown that the proposed method can be successfully applied to many multimedia and DSP applications requiring fixed-width property.