EU raids electronics companies in prices probe

December 6, 2013

European Union antitrust regulators have raided the offices of several companies that make and sell consumer electronics and domestic appliances, in an investigation into whether they artificially boosted the prices of goods online.

The raids were carried out by the European Commission, the EU's executive arm, which declined to identify the companies targeted. In a statement it said it has reason to believe they restricted of their products to keep their prices high or made them unavailable at outlets that sold them cheaply.

Royal Philips NV confirmed Friday it was one of the companies targeted. Spokesman Joost Akkermans said the company is cooperating with an "ongoing case" but it cannot comment further.

Media-Saturn-Holding GmbH, which operates the Saturn and Media Markt retail chains, likewise confirmed it had been involved and is cooperating. Samsung is widely reported to also have been targeted in the raids, but company officials in Seoul could not immediately be reached to confirm that late Friday.

The Commission underlined that its investigation is at a preliminary stage and may never lead to charges, let alone a finding of guilt.

Explore further: EU antitrust regulators charge LCD panel makers

Related Stories

EU antitrust regulators charge LCD panel makers

July 13, 2009

(AP) -- European Union antitrust regulators have charged Royal Philips Electronics NV and LG Display with fixing the price of liquid crystal display monitors, Philips said Monday.

EU raids telecoms firms in Internet probe (Update)

July 11, 2013

European Union anti-trust officials this week launched surprise investigations of several telecoms firms suspected of abusing their positions in Internet services, including Orange, Deutsche Telekom and Telefonica.

Philips breaks off deal with Funai (Update)

October 25, 2013

Royal Philips NV said Friday it has ended a $200-million sale and licensing deal it struck this year with Japan's Funai Electric Co. and will seek damages for breach of contract.

Recommended for you

Internet giants race to faster mobile news apps

October 4, 2015

US tech giants are turning to the news in their competition for mobile users, developing new, faster ways to deliver content, but the benefits for struggling media outlets remain unclear.

Radio frequency 'harvesting' tech unveiled in UK

September 30, 2015

An energy harvesting technology that its developers say will be able to turn ambient radio frequency waves into usable electricity to charge low power devices was unveiled in London on Wednesday.

Professors say US has fallen behind on offshore wind power

September 29, 2015

University of Delaware faculty from the College of Earth, Ocean, and Environment (CEOE), the College of Engineering and the Alfred Lerner School of Business and Economics say that the U.S. has fallen behind in offshore wind ...


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.