Samsung along with other Korean manufacturers and operators have been fined by the Korean Fair Trade Commission (FTC) for price fixing. Samsung along with companies like LG, Pantech, SK Telecom KT Corp and LG Uplus have been found to artificially inflate the price of the handsets and advertise claiming about the incentives to the consumers.
The local government body has slapped these companies with a fine of 45.3 billion won (US$40.1 million), including Samsung’s 14.2 billion won.
Additionally, all the companies have been asked to divulge the information related to the incentives.
Leave a Reply