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ASUS, Philips, Pioneer, Denon & Marantz Fined $130 Million for Price Fixing


Grilka8050
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In four separate decisions, the European Commission fined the electronic manufacturers ASUS, Denon & Marantz, Philips, and Pioneer for breaching EU competition rules. Specifically, they set minimum or fixed prices on their online retailers. The total fined of all four cases totals over €111 million but were reduced due to their cooperation. 

Commissioner Margrethe Vestager said, "The online commerce market is growing rapidly and is now worth over 500 billion euros in Europe every year. More than half of Europeans now shop online. 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. 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 companies were individually fined as follows:

ASUS: € 63.5 million, reduced 40%

Denon & Marantz: € 7.7 million, reduced %40

Philips: € 29.8 million, reduced %40

Pioneer: € 10.1 million, reduced %50

Fine reductions were determined by the extent of the company’s cooperation. Apparently, Pioneer was more cooperative than the other companies that were fined!

Source: TechPowerUp



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