Samsung to cough up millions to settle LCD TV failures

DailyTech reports Samsung has to pay millions to settle lawsuits over mass failures of LCD, Plasma and DLP televisions. The affected TVs suffered from capacitor failures, owners who paid to get their TV fixed will be able to get up to $650 in compensation, while customers who ditched the set can still receive up to $450 for diagnosis and compensation. Full details over here.

Finally Samsung has agreed to offer its users some financial relief. Users who paid out-of-pocket repairs costs on certain sets prone to capacitor failures can now seek to get up to $300 USD in compensation. Even users who did not pay for repairs may be eligible to a smaller settlement.

Writes Samsung:

You must fill out and submit this form to obtain reimbursement for:

Expenses you incurred, prior to March 2, 2012, to evaluate or diagnose the capacitor issue covered by the settlement up to $150

Expenses you incurred, prior to March 2, 2012, to fix the capacitor issue covered by the settlement up to $150, or up to $300 if the repair included replacing a power supply board

Shipping expenses, including insurance costs, you incurred, prior to March 2, 2012 to fix the capacitor issue covered by the settlement, up to $150

A $300 fully transferable debit card if you reported to SEA, prior to March 2, 2012 the capacitor issue covered by the settlement, but did not get it fixed and you now no longer possess your television; or

A payment of $50 if, after March 2, 2012, you require more than on repair to fix the capacitor issue covered by the settlement.

In other words, a customer who repaired the set may receive up to $600 for diagnosis, repairs, and shipping, plus $50 if they need more repairs; while a customer who ditched the set can still receive up to $450 for diagnosis and compensation.