China has imposed penalties totalling 353 million yuan (HK$434 million) on six manufacturers of flat panel screens, including Samsung and LG Display, for fixing prices.
It is the first time China has issued a penalty against a foreign firm for fixing prices. The penalty relates to infringements between 2001 and 2006.
The National Development and Reform Commission's (NDRC) penalty includes 144 million yuan in fines and the repayment of 172 million yuan that Chinese customers overpaid, the economic planning body said. Reported by S.China Morning Post 6 hours ago.
It is the first time China has issued a penalty against a foreign firm for fixing prices. The penalty relates to infringements between 2001 and 2006.
The National Development and Reform Commission's (NDRC) penalty includes 144 million yuan in fines and the repayment of 172 million yuan that Chinese customers overpaid, the economic planning body said. Reported by S.China Morning Post 6 hours ago.