Monday, August 29, 2016
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Facebook 'Trending' To Rely Less On Humans
Apple Patches iOS Security Flaws Discovered In Spyware Targeting Activist
LG To Showcase Latest OLED TVs Compatible With HDR Technologies At IFA
NHK Join Forces With Panasonic And Sony To Win The 8K TV Race
Intel Introduces New 3D NAND SSDs
Facebook To Use Personal Data From WhatsApp To Bring You Personalized Ads
Amazon Introduces Car Research Portal
Google Uses Artificial Intelligence To Compress Images
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > Consumer Electronics > South K...
Last 7 Days News : SU MO TU WE TH FR SA All News

Tuesday, November 01, 2011
South Korea Fines LCD Makers For Price Fixing


South Korea's Fair Trade Comission (KFTC) has fined 10 flat panel makers in Taiwan and South Korea a total of 194 billion won (US$175 million) for price fixing.

Firms, including AU Optronics Corp and Chimei Innolux Corp from Taiwan, and Samsung Electronics and LG Display in South Korea colluded from 2001 to 2006 to control prices of panels for computers and televisions, the Korean Fair Trade Commission said.

The offenders also included Taiwanese and Japanese units of both Samsung Electronics and LG Display, as well as Taiwan?s Chunghwa Picture Tubes Ltd and HannStar Display Crop, KFTC added.

Officials from the firms involved held meetings over six years to agree on cutting or suspending production to prevent prices from falling and to exchange confidential information such as sales plans.

Samsung Electronics was slapped with the heaviest fine of 97.2 billion won, followed by 65.5 billion won for LG Display and its foreign affiliates.

Three years ago, major Asian LCD makers including LG were fined after a similar US probe. In December last year, the European Commission also fined six Asian makers of LCD screens a total of 649 million euros (US$860 million at the time) for operating for almost five years as a cartel.

Samsung, the world's largest LCD maker, reportedly said it respected the commission's decision and would abide by the free-trade law. LG, the second largest LCD maker, said it objected to the commission's decision and would appeal to the Seoul High Court.


Previous
Next
Fujifilm Releases FinePix REAL 3D V3 Digital Viewer        All News        Massive Cyber Attack Targets Chemical Companies
Fujifilm Releases FinePix REAL 3D V3 Digital Viewer     Consumer Electronics News      Third Quarter Home Entertainment Spending Rises

Get RSS feed Easy Print E-Mail this Message

Related News
Samsung Forms Alliance To Promote Curved Display Technology In China
Samsung To Announce Refurbished Smartphone Program
Samsung Gear S3 Smartwatch Is Coming This Month
Samsung's 32TB SSD Includes Cutting-edge 3D Chip Technology
Researcher Hacked Samsung Pay Standing Just 2m Away from The Paying Process
Samsung, TSMC And Intel Set To Expand Their Chip Production Capacities In 2H
Samsung Holds Largest Share In Enterprise SSD Market
Samsung Reportedly in Talks to Buy Assets of Fiat Auto-Parts Unit
Samsung Gear S3, Apple Watch 2 Coming In September
Samsung Unveils the New Galaxy Note7
Samsung and Nestle Collaborate on the Internet of Things and Nutrition
Samsung Second Quarter Results Boosted By Component Sales

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2016 - All rights reserved -
Privacy policy - Contact Us .