EU handed down a total fine of 111.2 million euros to Philips, Pioneer, Asus and Denon & Marantz

EU antitrust authorities handed down a total fine of 111.2 million euros ($130.1 million) to Philips, Pioneer, Asus and Denon & Marantz on Tuesday for fixing online resale prices.

The European Commission opened an investigation into the four companies in February last year as part of its crackdown against curbs on online sales across-borders, such as restricting offers based on a customer’s location or nationality.

Reuters had reported earlier on Tuesday that the EU would penalize Philips and three other companies.

The EU competition enforcer said the companies engaged in “fixed or minimum resale price maintenance” by restricting the ability of their online retailers to set their own retail prices for widely used consumer electronics products such as kitchen appliances, notebooks and hi-fi products.

Philips’ fine was 29.8 million euros, Asus 63.5 million euros, Pioneer 10.2 million euros and Denon & Marantz 7.7 million euros.

Avatar

This article has been posted by a News Hour Correspondent. For queries, please contact through [email protected]
No Comments

Translate this News

Join the Facebook Group

Click here to join the Facebook group of News Hour

Popular Posts

Sacred Games exposes Rajshri Deshpande nude [video]
Anurag Kashyap shoots Kubra Saith 7 times nude and made her cry for frontal nudity scene [Video]
Grameenphone brings tourism campaign for GP Stars with exciting discounts
Huawei introduces EMI facilities for smartphone purchase in Bangladesh
Paperfly launches delivery services covering 64 districts in Bangladesh
The miracle of Hyperbaric Oxygen Therapy (HBOT) and its potential in Bangladesh

Advertisement

News of the Month

Scroll Up
%d bloggers like this: