BRUSSELS (Reuters) - Dutch group Philips (PHG.AS) and three other consumer electronics companies were fined a total 111.2 million euros ($130 million) by EU antitrust regulators on Tuesday for imposing fixed or minimum online prices for their products.
FILE PHOTO: The logo of Philips is seen at the company's entrance in Brussels September 11, 2012. REUTERS/Francois Lenoir/File Photo
The ruling against Philips, Asus (2357.TW), Pioneer (6773.T) and Denon & Marantz followed a 17-month investigation by the European Commisssion as part of its crackdown on online sales practices such as price restrictions based on a customer’s location or nationality.
The investigation, which began in February last year, was one of three that covered a total of 15 companies in the consumer electronics, video game and hotel sectors.
The four companies fined on Tuesday were found to have restricted the ability of online retailers to set their own prices for products such as kitchen appliances, notebook computers and hi-fi products, insisting on fixed or minimum resale prices, the EU said.
Pioneer was also found by the EU to have sought to limit the ability of its retailers to sell across borders. It engaged in illegal practices in 12 EU countries, including France, Germany, the Netherlands and Britain, the Commission said, adding that the other companies did so in one or two countries.
“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,” European Competition Commissioner Margrethe Vestager said in a statement.
Asus was fined 63.5 million euros, Philips 29.8 million euros, Pioneer 10.2 million euros and Denon & Marantz 7.7 million euros.
Asus declined
