A PYMNTS Company

China: TV makers report they’ve received no compensation from LCD price-fixer fines

By  |  January 18, 2013

According to reports, the $27 million in fines issued by the Chinese government for LCD price-fixers – a fine supposedly collected for compensation to other TV manufacturers – has not been awarded to any companies as of yet. China decided to fine companies $56 million for their role in price-fixing of LCD screens. Those penalized included Samsung and LG. TV makers are reporting that they have not received any of the $27 million of those fines despite reports it was to be issued to TV manufacturers in the nation. While there is confusion concerning what is happening to the money CTU Tech, a representative of 10 Chinese TV makers, is suspected of holding the fines, and in a statement issued last week said that it had the legal right to manage the distribution of those funds.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

     

    Full Content: ZDNet

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.