• Change of culture needed

    The right leadership will help SA shed its culture of violence, says Mandi Smallhorne.

  • 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

Loading...
See More

China fines LG, Samsung for price-fixing

Jan 04 2013 08:23 AP
LG TV

LG has begun sales of what it claims is the world's largest ultra-definition television. (Ahn Young-joon, AP)

Related Articles

Samsung, LG fined $38.5m for price-fixing

LG seeks ban on Samsung tablet

LG Electronics swings back in the black

EU imposes record cartel fine on Philips

Apple loses bid to ban Samsung phones

Samsung under fire over labour breaches

 

Beijing - Chinese regulators have fined South Korean companies LG and Samsung and four Taiwanese companies on charges they fixed prices of flat panel screens sold to Chinese manufacturers.

The government announced Friday that LG, Samsung and the Taiwanese companies were ordered to repay a total of 172 million yuan ($27m) to Chinese customers. In addition, the companies were fined a total of 144 million yuan ($22.8m).

The Chinese Cabinet's economic planning agency said investigators found that representatives of the six companies met dozens of times in 2001-06 to agree on prices to charge for flat-panel screens. It said that improperly raised costs for Chinese manufacturers.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

samsung  |  lg  |  price-fixing

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

Top 10 richest musicians of all time

Check out the gallery to find out who they are!

 
 

Luxury living

10 of the most expensive things that will leave your jaw hanging!
Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...