EU Commissioner Margrethe Vestager
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Four customer electronic devices producers are being penalized for breaking EU antitrust guidelines.
On Tuesday, the European Commission fined Asus; Denon & &Marantz;Philips; and Pioneer for enforcing set or minimum resale costs on their online merchants. The fines arise from the business’ breach of the EU competitors guidelines and were performed in 4 different choices.
“As a result of the actions taken by these four companies, millions of European consumers faced higher prices for kitchen appliances, hair dryers, notebook computers, headphones and many other products. This is illegal under EU antitrust rules,” EU Commissioner Margrethe Vestager stated in a release. “Our decisions today show that EU competition rules serve to protect consumers where companies stand in the way of more price competition and better choice.”
The EU states Asus; Denon & &Marantz;Philips; and Pioneer stepped in with online merchants who offer products at low costs, according to the release. Because bigger online merchants immediately change their costs to match those of rivals, the customer electronic devices companies required the low-pricing merchants to follow the costs they asked for by threatening them with sanctions such as obstructing of products, according to the release. Consequently, the customer electronic devices business’ actions resulted in greater costs for customers in Europe.
All 4 business confessed to infringing EU antitrust guidelines, the commission stated. The business’ fines, which total up to more than $130 million (EUR111 million), were decreased because they complied with the commission.
“It’s good that we can now leave this case behind us, and focus on the positive impact that our products and solutions can have on people,” Steve Klink, head of the group press workplace at Philips, stated in an emailed declaration. “Philips attaches prime importance to full compliance with all applicable laws, rules and regulations.”
“The Pioneer Group takes the decision seriously and continues to strengthen its efforts to ensure compliance with the relevant laws and regulations,” stated in the release a Pioneer representative described.
Asus and Denon & & Marantz didn’t right away react to ask for remark.
These companies aren’t the only ones getting fined by the European Commission this month for antitrust infractions. Google got fined a record $5 billion over an infraction associated to the Android mobile os. The EU stated the tech giant’s contracts with mobile phone makers that depend upon Android put those business at a drawback.
First released on July 24, 11: 52 a.m. PT.
Updates on July 25, 12: 45 p.m. PT: Adds Pioneer declaration.
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