From toothbrushes to coffee makers to computers: Europe fines Asus, Pioneer, Phillips for rigging prices of kit

From toothbrushes to coffee makers to computers: Europe fines Asus, Pioneer, Phillips for rigging prices of kit

5 years ago
Anonymous $RBasgWKaIV

https://www.theregister.co.uk/2018/07/25/europe_fines_price_fixing/

The European Commission has sent a slightly belated message to the consumer electronics industry that it frowns upon price fixing, this week fining four manufacturers a total of €111m (US$30m, £98m) for breaking European rules as long as seven years ago.

The companies on the business end of the regulators are Asus, Denon & Marantz, Pioneer, and Phillips, with all four accused of pressuring online retailers from discounting their products between 2011 and 2015. In effect, they kept the prices of their gear artificially high on internet marketplaces, hitting punters in their wallets and purses.