South Korea’s Antitrust Watchdog Fines Broadcom Over Unfair Deal With Samsung – News18


Last Updated: September 21, 2023, 13:13 IST

Broadcom makes components for Samsung.

Broadcom’s long-term deal with Samsung has recently come under scrutiny, resulting in a hefty fine of 19.1 billion won for unfair practices.

South Korea’s antitrust watchdog said on Thursday it will tentatively fine Broadcom Inc and affiliates 19.1 billion won ($14.24 million) for forcing a long-term supply deal that was unilaterally disadvantageous to Samsung Electronics.

The country’s Fair Trade Commission will also issue a corrective order to Broadcom, it said in a statement.

A representative of Broadcom could not be immediately reached. Samsung declined comment.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – Reuters)

Source link


Please enter your comment!
Please enter your name here