Samsung fined $47 million for price fixing in Netherlands


FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul, South Korea, August 25, 2017. REUTERS/Kim Hong-Ji/File Photo

AMSTERDAM (Reuters) - Electronics maker Samsung has been fined 40 million euros ($46.9 million) for price fixing in the Netherlands, Dutch competition watchdog ACM said on Wednesday.

The market regulator said Samsung had pushed up the prices of its televisions in the Netherlands for years, by constantly urging retailers to raise their prices if they were selling them below Samsung's preferred market rate.

Get 30% off with our ads free Premium Plan!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

How Finnish youth learn to spot disinformation
Opinion: In sunny Tahoe, a hollow-eyed tech billionaire pretends to be normal
An Apple AI blunder messed up headline summaries so badly some want the feature pulled
Google proposes altering contracts to correct illegal search monopoly
As elder fraud explodes, banks in the US beat back duty to call cops
Many Americans have come to rely on Chinese-made drones. Now lawmakers want to ban them
Apple seeks to defend Google's billion-dollar payments in search case
Iran lifts ban on WhatsApp and Google Play, state media says
India's push for home-grown satellite constellation gets 30 aspirants
Google Search has a surprise in store for 'Squid Game' fans

Others Also Read