I believe that Samsung did. Same thing as the diamond industry. Diamonds are the most common and abundant precious stone on the planet, literally. But because one cartel owns most of the diamond mines, they can control how many actually hit the market each year, thus keeping demand artificially thousands of percent higher than the supply, and keeping the prices 10x where they should be.
Different things at work, but both shady. I don't support either practice.
Little known fact... Engagement rings didn't become traditionally "exclusively" Diamond until a De Beers ad campaign in the late 1930s. See the last sentence of this section:
Diamond (gemstone) - Wikipedia, the free encyclopedia