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

By  |  January 18, 2013
China: TV makers report they’ve received no compensation from LCD price-fixer fines

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.

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    Full Content: ZDNet

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