A PYMNTS Company

China: Nation joins U.S., E.U. in fining LCD price-fixers

By  |  January 4, 2013

China has followed suit with American and European authorities as government officials have reportedly fined makers of LCD screens about $56 million in a global price-fixing scheme that resulted in more than $3 billion in fines for various manufacturers in the U.S. and Europe. China has fined South Korean and Taiwanese LCD makers including Samsung Electronics and LG Electronics Inc. The fine includes reimbursement to Chinese consumers of the LCD screens. The penalties were announced by China’s National Development and Reform Commission, and in a statement said that market prices were “manipulated” by the penalized companies.

 

Full Content: Business Times

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