Quantcast
Latest Stories

China fines LG, Samsung in flat panel price case



In this Oct. 20, 2012 photo, Chinese people line up to enter a newly-opened Apple Store in Wangfujing shopping district in Beijing. A Chinese court has ordered Apple Inc. to pay 1.03 million yuan ($165,000) to eight Chinese writers and two companies who say unlicensed copies of their work were distributed through Apple’s online store. The Beijing No. 2 Intermediate People’s Court ruled Thursday, Dec. 27, 2012 that Apple violated the writers’ copyrights by allowing applications containing their work to be distributed through its App Store, according to an official who answered the phone at the court and said he was the judge in the case. (AP Photo/Andy Wong, File)

BEIJING—China has fined South Korea’s LG and Samsung and four Taiwanese companies a total of 144 million yuan ($22.8 million) for fixing prices of flat panel screens, the government announced Friday.

The move reflected Beijing’s growing enforcement of its laws on pricing and competition against global companies and some Chinese entities to support its economic development goals.

China’s economic planning agency said investigators found representatives of LG, Samsung and the four Taiwanese suppliers met dozens of times in 2001-06 to agree on prices to charge for flat-panel screens sold to Chinese manufacturers of computers, TV sets and other electronics. It said that improperly manipulated market prices.

In addition to the fines, the companies were ordered to repay a total of 172 million yuan ($27 million) to Chinese customers, the National Development and Reform Commission said in a statement. It said authorities also seized 36.8 million yuan ($5.8 million) from the companies, raising the total of money in the case to 353 million yuan ($56 million).

The Taiwanese companies are AU Optronics, Ltd.; Chunghwa Picture Tubes, Ltd.; HannStar Display Corp. and Chi Mei Corp.


Follow us on Facebook Follow on Twitter Follow on Twitter




Recent Stories:

Filipinos second-shortest in Southeast Asia 8 mins elapsed Ex-COA chief and co-accused in Arroyo plunder case nabbed 2 hours elapsed Kris Aquino’s ex- close in security named new Air Force chief 2 hours elapsed The ‘link diagram’ that killed ex-Bataan police officer 2 hours elapsed Cebu has hair of John Paul II and piece of John XXIII’s skin 2 hours elapsed LTRFB denies Victory Liner appeal 2 hours elapsed NLEX holds off Jumbo Plastic for a playoff berth 3 hours elapsed Tagle to Napoles: Be honest and return the money 3 hours elapsed
Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: China , gadget , LG , mobile phone , Samsung , technology

  • i_am_filipino

    OR CHINA FORFEITING SAMSUNG AND LG PRODUCTS AND SELL AROUND THE WORLD TO DESTROY THESE COMPANIES

  • http://pulse.yahoo.com/_GUZISWUMVDD5QJUC7GBJKEM7XA prangka

    China accused these companies of manipulating market price but is it not China  doing the same thing by putting a cap on export of rare metal to jack up the prices worldwide?



Copyright © 2014,
.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement Advertisement
  1. Mark Caguioa lambasts Ginebra teammates on Twitter
  2. ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  3. No truth to viral no-visa ‘chronicles’
  4. Nokia to be named Microsoft Mobile
  5. Senator wants to probe PH slow Internet connection
  6. Bam Aquino becomes Master Splinter’s son after Wiki hack
  7. Viber releases new design for iPhone, comes to Blackberry 10 for the first time
  8. New York police Twitter campaign backfires badly
  9. PH has slowest internet in Southeast Asia
  10. Did Deniece Cornejo lambast Vhong Navarro on social media?
  1. PH has slowest internet in Southeast Asia
  2. Mark Caguioa lambasts Ginebra teammates on Twitter
  3. Netizens seethe over Aquino’s ‘sacrifice’ message
  4. Did Deniece Cornejo lambast Vhong Navarro on social media?
  5. Senator wants to probe PH slow Internet connection
  6. Facebook rolls out ‘nearby friends’ feature
  7. Nasa’s moon-orbiting robot crashes down
  8. Judge in Apple v. Samsung patent trial fed up with smart phones in court
  9. Mommy Dionisia sings ‘Riking Bull,’sends netizens ablaze
  10. Nokia to be named Microsoft Mobile
  1. #RejectedBbPilipinas2014Questions flood Twitter
  2. Did Deniece Cornejo lambast Vhong Navarro on social media?
  3. Netizens fall in love with Crimea prosecutor Natalia Poklonskaya
  4. Mommy Dionisia Pacquiao scores, takes over social media
  5. Nude and so dangerous
  6. Mommy Dionisia sings ‘Riking Bull,’sends netizens ablaze
  7. Russia tries to curb Crimean prosecutor’s Internet fame
  8. Memes flourish after Pacquiao victory
  9. PH has slowest internet in Southeast Asia
  10. Netizens thank Capa for Lee arrest

News

  • Ex-COA chief and co-accused in Arroyo plunder case nabbed
  • Kris Aquino’s ex- close in security named new Air Force chief
  • The ‘link diagram’ that killed ex-Bataan police officer
  • Cebu has hair of John Paul II and piece of John XXIII’s skin
  • LTRFB denies Victory Liner appeal
  • Sports

  • NLEX holds off Jumbo Plastic for a playoff berth
  • Pacquiao can dodge tax issues
  • F1 boss Bernie Ecclestone rejects bribery charges
  • Big Chill freezes Cafe France to arrest skid
  • Pacquiao has to go through PBA Rookie draft
  • Lifestyle

  • Gongs and southern dances star in a workshop at San Francisco Bayanihan Center
  • This woman ate what?
  • Photos explore dynamics of youths’ sexual identity
  • 12th Philippine Food Expo set at the World Trade Center
  • No tourist draw, Malang the croc will remain wild
  • Entertainment

  • Smithsonian wants photos, videos for ‘Day in the Life of Asian Pacific Americans’
  • What Garcia Marquez left behind
  • Has Ai Ai fallen deeply with ‘sireno?’
  • Sony developing live-action Barbie comedy
  • California court won’t review Jackson doctor case
  • Business

  • Metro Pacific acquires stake in Victorias
  • How ‘one percent’ economic elite was uncovered
  • Facebook profits triple as mobile soars
  • Insular Honors Sales Performers at Testimonial Rites
  • Apple increases stock buyback, will split stock
  • Technology

  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Viber releases new design for iPhone, comes to Blackberry 10 for the first time
  • Opinion

  • Editorial cartoon, April 24, 2014
  • Talking to Janet
  • Respite
  • Bucket list
  • JPII in 1981: walking a tightrope
  • Global Nation

  • Filipinos second-shortest in Southeast Asia
  • Obama to visit Filipino soldiers in Fort Bonifacio
  • Fil-Am youth conferences unite under one theme
  • Embassy advisory: Filipinos still need visas to enter US
  • No travel restriction to Mideast, DFA clarifies
  • Advertisement
    Marketplace