Featured Articles

AMD sheds light on stacked DRAM APUs

AMD sheds light on stacked DRAM APUs

AMD is fast tracking stacked DRAM deployment and a new presentation leaked by the company  points to APUs with stacked DRAM,…

More...
Nvidia officially launches the 8-inch Shield Tablet

Nvidia officially launches the 8-inch Shield Tablet

As expected and reported earlier, Nvidia has now officially announced its newest Shield device, the new 8-inch Shield Tablet. While the…

More...
Intel launches new mobile Haswell and Bay Trail parts

Intel launches new mobile Haswell and Bay Trail parts

Intel has introduced seven new Haswell mobile parts and four Bay Trail SoC chips, but most of them are merely clock…

More...
Aerocool Dead Silence reviewed

Aerocool Dead Silence reviewed

Aerocool is well known for its gamer cases with aggressive styling. However, the Dead Silence chassis offers consumers a new choice,…

More...
AMD A8-7600 Kaveri APU reviewed

AMD A8-7600 Kaveri APU reviewed

Today we'll take a closer look at AMD's A8-7600 APU Kaveri APU, more specifically we'll examine the GPU performance you can…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Friday, 16 March 2012 15:48

Korean watchdog bites leading tech outfits

Written by Nick Farrell

y lawbookhammer

Samsung, LG, Pantech, SK Telecom, KT and LG in hot water

Korea's corporate regulator fined some of the country's top IT outfits with a $40.1 million fine for price rigging and consumer fraud. Samsung, LG, Pantech, SK Telecom, KT and LG in hot water along with some key telecommunications companies.

The Fair Trade Commission (FTC) said the companies colluded to inflate the prices of mobile phones and then advertise they were offering considerable incentives. This practice effectively tricked consumers into believing they were getting a bargain for buying new phones. On top of the fine, the companies have been ordered to release information on how much they provided in incentives to fuel sales.

The FTC, in addition, took administrative steps to ban these companies from offering new sales incentives. The worst offender was  SK Telecom followed by Samsung Electronics and mobile carrier KT.

Mobile phone manufacturers marked up the prices of 209 models they handed over to mobile service operators, while operators advertised they were offering discounts on products and services that should not have been so expensive in the first place, the regulator said. "Companies took advantage of the complicated price setting practice in the mobile telecommunications sector to trick consumers," an FTC official said.


Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments