Apex Digital, a private Californian company that has helped to drive down the price of DVDs, flat-panel TVs and other consumer electronics across the US, has failed to make payments of nearly $500m to a Chinese supplier, it has emerged.

Sichuan Changhong Electric, one of China's largest TV makers, said on Tuesday that it planned to write off $310m of the total debts of $467.5m it was owed by Apex, though it still expected to collect the rest.