China on Friday joined a global crackdown on price-fixing by manufacturers of LCD screens used in computers and TVs, imposing multimillion-dollar fines on South Korea's Samsung and LG and four Taiwanese companies. Suppliers already have been hit by U.S. and European regulators with penalties totaling more than $3 billion for colluding to push up slumping prices of display screens in 2001-06, which raised costs for electronics manufacturers. U.S. courts have sentenced 12 executives to prison. In China, LG and Samsung and four Taiwanese companies were ordered to pay 353 million yuan ($56 million), according to the Cabinet's planning agency, the National Development and Reform Commission. It...
0 Responses to China fines LG, Samsung in flat panel price case