China fines Samsung and LG for LCD price-fixing

Samsung and LG Electronics, along with four Taiwanese companies, have been fined by the government for jigging LCD screen prices between 2001 and 2006. The secret negotiations held the prices of LCD screens artificially high, China's National Development and Reform Commission found - affecting the manufacture of phones, …

[NoneSuch]

Plus, there is money to be made so why the heck not jump on the bandwagon.

[LarsG]

Pot calling the kettle black

[Zaphod.Beeblebrox]

China - always the copycat...

[Pen-y-gors]

They got off lightly

...considering that a lot of naughtiness in China finds the crim in front of a firing squad prior to a final journey to the organ banks...

[asdf]

Re: They got off lightly

Considering China makes alot more LCD's than are purchased domestically its not much of a surprise they treated the makers with kid gloves. They benefited from the price fixing more than it hurt them more than likely.

[Anonymous Coward]

I wonder what else Shamsung gets up to...

in all of the markets it's in.

[Anonymous Coward]

So $$$amsung are not so white after all.

[Jordan Davenport]

Meanwhile, this fixes what exactly? I mean, sure, the companies were penalized and aren't likely to do it again in the near future, but what about the end users who actually had to make technology purchases affected by the price-fixing conspiracy? The money isn't exactly making its way back to them, is it? With such a small fine, the companies are still coming out ahead, while China's government gets a small boost in funds. The same thing really applies around the world. I've not read anywhere about reparations to the ones actually harmed by the artificially raised prices. Of course, I may have missed something, but all I've seen is just a few slaps on the wrists of the companies and a small boost in government funds that didn't come from taxes.

[Anonymous Coward]

As well as a fine payable to the authorities perhaps people like Samsung and LG should pay money back to their customers (Apple etc.).

[The Alpha Klutz]

not jsut LCDs

food, printer ink, socks, condoms, healthcare, transport

all of the prices are fixed so no matter how shit the quality, you always have to pay a little more

dont worry youyr money is going to a good cause - the rockefellers and bill gates and the eugenicists. they know better how to spend your money than you do. they know to use your own money to kill you.

[Mr Young]

I do wonder?

I certainly don't hear where the 'fines' end up going and I'm quite sure any price fixing would have helped towards the tax bill no? Anyway - considering the tech that goes into a modern complex product it's FUCKING amazing that it can be sold at the prices it is!