Monday, January 23, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Xiaomi's Global Vice President Hugo Barra is Leaving the Company
Samsung Announces Cause of Galaxy Note7 Incidents, Shares Quality Assurance Measures
Hon Hai chief Mulls US$7 Billion Display Panel Investment in U.S.
Apple Sues Qualcomm Over Patent Royalties
Sharp Establishes New Research and Development Center for Home Appliances in China
Samsung Seeks Arbitration Over LCD Supply Halt
Canon May Invest In Toshiba's Chip Business
Samsung To Explain What Caused The Galaxy Note 7's ban In Press Event
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 Announces Cause of Galaxy Note7 Incidents, Shares Quality Assurance Measures
Samsung Seeks Arbitration Over LCD Supply Halt
Samsung To Explain What Caused The Galaxy Note 7's ban In Press Event
Samsung Begins Rollout of Android 7.0 Nougat
Samsung Bribery Case May Trigger U.S. Legal Authorities Too
Samsung's Exynos Processors Selected For Audi's In-Vehicle Infotainment
Samsung Adds New Capabilities And Categories To Their Mobile Alliance Program
LG Display To Supply LCD Panels For TVs to Rival Samsung Electronics
Samsung Vice Chairman Suspect in Political Probe
Samsung SDI Presents Fast Charging Battery That Enables Electric Vehicles to Drive 600km
Samsung's Latest Wearables Get iOS Compatibility
Samsung's Exynos Processors To Power Future Audi Cars

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2017 - All rights reserved -
Privacy policy - Contact Us .