China’s NDRC Hits LCD Makers, Including Samsung, LG A Penalty Of $56 Million Over Price Fixing

Posted on Jan 4 2013 - 10:25am by Editorial Staff
LG

LG

According to China News, China’s National Development and Reform Commission (NDRC) has issued a big penalty of totaling RMB 353 million (about $56 million) against Samsung, LG and other several foreign LCD makers for monopolistic behavior and a price-fixing conspiracy. The publication reported that Samsung have to pay RMB 101 million i.e. $16.2 million as part of its fine while LG have to pay RMB 119 million i.e. $18.9 million, while Taiwan’s CMO, AUO, CPT and HannStar are the other entrants who being part of the judgement.

NDRC Official Xu Kunlin told reporters that measures have been proposed so that it would not be happen with the companies moving forward, which includes abiding by Chinese laws, protecting competition in the market, and ensuring the rights and interests of operators and consumers. With account of 5.14 million LCD panels sold by the companies for the period of five years from 2001 to 2006, Samsung counts on selling 826,000 units, while LG were responsible for selling 1.9 million displays.

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.