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March 15, 2012 07:06 pm GMT

Samsung, LG, Korean Carriers Fined For Mobile Price Fixing Scheme

sktelcomphoneWhat happens when Koreas biggest wireless carriers and Koreas biggest phone manufacturers get caught offering bogus wireless phone deals to their customers? Well, according to the Yonhap News Agency, Koreas Fair Trade Commission gets pissed off and slaps those companies with a huge fine 45.3 billion won ($40.2 million) for price fixing and consumer fraud.If the fines are any indication, then carrier SK Telecom and Samsung Electronics were the biggest offenders here they netted themselves a 20.2 billion won ($17.9 million) and 14.2 billion won ($12.6 million) penalty respectively.

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