Samsung has just been hit with a sizeable 39 million Euros (roughly 45 million US Dollars) fine from a Dutch regulator. The Netherlands Authority for Consumers and Markets (ACM) has found the company guilty of influencing the prices for its TVs.
According to NLTimes, the South Korean tech giant influenced the prices that various stores charger for its televisions between the years 2013 and 2018. In other words, this lead to customers paying more for their Samsung branded TVs. The report added that the brand had apparently looked up every online offering of its TVs and put online stores under pressure to inflate the prices, which is illegal as per the ACM.
The ACM investigated the matter and found the unauthorized practices from the known consumer electronics maker across even retailers that sold Samsung branded televisions online. Samsung reportedly sent messages to sellers to raise the prices if the company found that the prices were lower than what it wanted. While employees claimed that it was presented as an advice, the market authority found that it was not a non committal suggestion.
Furthermore, the company even intervened when retailers complained about competitors selling its TVs for lower prices. The ACM found these practices from WhatsApp and emails that Samsung had addressed to the various retailers. ACM CEO Martijn Snoep stated “Samsung’s behavior distorted competition at the retail level and led to higher prices for consumers.” As of right now, the company is against the decision by the ACM and is prepared to take legal steps against the fine since it complied with all competition rules.
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