On Sunday, India’s antitrust regulator said it has decided to impose a combined 10.46 billion won (USD 7.55 million) in fines on 12 domestic companies for conspiring to fix bidding prices over a semiconductor monitoring and control system by Samsung SDS.
PS ENG, Daean C&I, Doota IT, and nine other companies colluded to predetermine a winning bidder through prior discussions about quotations in a total of 334 bids issued by Samsung from 2015 through 2023, according to the Fair Trade Commission (FTC).
They had done so to prevent low-cost bidding and prevent newcomers from winning the contracts after Samsung adopted a bidding system in 2015 to cut costs, reports Yonhap news agency.
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The system is designed to ensure optimum conditions at semiconductor manufacturing factories and the safety of workers, and it monitors and controls pumps, chiller, speciality gas and overall facilities needed for chip production, among other things.
Also, Instagram has been testing a new feature for the content creators on the platform. The new feature will enable them to experiment with reels which will not display on their profiles and will let the creators to test new content without posting these reels on their profile. During the development phase, the new feature is called as trail reels. As per the reports, the compamy started testing the new reels related feature in this week itself across the world. The feature also aims at giving the creators a way to try different types of content and unleash their creativity by publishing reels that are hidden from their followers but these reels will be visible to non-followers.
Also, in the last week of May (2024) TikTok reportedly working on to create a version of its recommendation algorithm that operates independently from Douyin, the Chinese version operated by its parent company ByteDance.
Inputs from IANS
