Netherlands: Samsung fined €39 million ‘for influencing TV prices’

September 29, 2021 9News Nigeria Europe 0

The Dutch consumer watchdog has fined Samsung more than €39 million for influencing the online prices of television sets.

The Netherlands Authority for Consumers and Markets (ACM) announced the fine on Wednesday for the Benelux arm of the South Korean electronics giant.

The company had tried to influence prices of new models of television sets that usually drop quickly after they were introduced to the market, the authority said in a statement.

“Samsung exerted undue influence on the online sales prices of televisions of seven retailers from January 2013 to December 2018.”

“Under the guise of ‘price recommendations’, Samsung ensured that the retailers raised their prices to the market price desired by Samsung,” added ACM chairman Martijn Snoep.

“Samsung’s conduct distorted competition at the retail level and led to higher prices for consumers.”

The watchdog said it seized evidence of WhatsApp chats and emails during early morning raids.

Samsung said in a written reaction that it would appeal the fine.

“We are disappointed with the ACM’s decision, as we believe that Samsung Electronics Benelux … did not violate competition laws in the Dutch TV market as alleged by the ACM,” the company said.

Source

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