Samsung on the receiving end of a $45 million fine

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Samsung TV Manufacturing Plant in Karachi

Korean manufacturer Samsung has just been hit with a rather large $45 million fine from a Dutch regulator. The Netherlands Authority for Consumers and Markets (ACM) has stated that the company has in fact been found guilty of influencing the prices for its TVs.

In accordance with what the latest reports suggest, the South Korean tech giant has proceeded on to influence the prices that various stores charge for its televisions between 2013 to 2018. In more simpler terms, this has meant that customers have been paying more for their Samsung branded TVs. The report further proceeded on to add that the brand had apparently looked up every online offering for the sake of its TVs and also took upon itself to put online stores under pressure so as to inflate the prices – all of which is illegal in accordance with ACM.

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The ACM did indeed investigate the matter and ended up finding out that the unauthorized practices from the known consumer electronics maker across even retailers that ended up selling Samsung branded televisions online. It has been stated that the Korean giant actually sent messages to sellers, telling them to raise the prices – this was of course the case if the company found out firsthand that the prices were lower than what they should’ve been in accordance with it. The employees actually said that all this was just advice, however, the regulatory authority has found that it was in fact a non committal suggestion.

Moreover, the company even took upon itself to intervene when and if retailers complained about competitors selling its TVs for lower prices. The ACM ended up finding that these practices exist thanks to WhatsApp and emails that Samsung had sent to retailers – telling them to take actions in accordance with what the company wanted.

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