SEOUL (dpa-AFX) - The Netherlands Authority for Consumers and Markets or ACM fined over 39 million euros on Samsung Electronics Benelux B.V. for coordinating the online prices of television sets with retailers. From January 2013 through December 2018, Samsung exercised undue influence on seven retailers to increase the their prices to the market price that Samsung desired.
Martijn Snoep, Chairman of the Board of ACM, stated: 'The retailers followed Samsung's recommendations because Samsung, as the one pulling all the strings, also consistently confronted other retailers if they charged too low prices.'
ACM noted that Samsung's practices disrupted competition at the retail level, and resulted in higher prices for consumers.
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