LG Electronics India drops on report co, Samsung face India tariff evasion probe

LG Electronics India

23/09/2026 11:13

** LG Electronics India LGEL.NS trims gains to settle 1.5% higher at 1,688.8 rupees
** India is investigating LG Electronics and Samsung for allegedly paying lower tariffs on imported high-end TV display parts, Reuters reports, citing sources
** Indian officials allege the companies wrongly claimed a concessional 5% tariff on imported OLED glass screens called open cells, arguing the rate has for years been reserved for the older LCD and LEDs which dominate mass-market sales -- report  
** Stock was up 2.5% before the report 
** Samsung says it is "reviewing the matter and cooperating fully with the relevant authorities, adding it is firmly committed to complying with all laws"
** LG and the revenue directorate did not respond to Reuters queries
** YTD, LGEL up 10.9% 


 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))