Philips, Asus, Pioneer and D&M hit with e-commerce fines

Philips, Asus, Pioneer and D&M hit with e-commerce fines

Philips, Asus, Pioneer and D&M hit with e-commerce fines

When retailers failed to kowtow, the EC says that the companies took "sanctions" against them such as withdrawing supply, in violation of European Union antitrust law. Asus, Denon & Marantz, Philips and Pioneer reportedly leveraeged online resellers to keep prices of their products high, and have been handed a collective $130 million in fines. The companies are guilty of attempting to control the pricing of online retailers, preventing them from selling the companies products under the recommended prices set, and threatening to limit retailers' access to stock. According to the investigation, Asus would monitor the resale price for certain PC hardware products at retail and would request that retailers increase their prices if they fell below a certain threshold. Asus faces the biggest fine, but four other companies faced paying out significant sums for being caught imposing fixed or minimum resale prices on their online retailers.

The fines total over €111 million ($130 million) but have been reduced after the companies cooperated with European Union authorities.

The four companies used automated software that monitored prices at their partner retailers to make sure they followed rules.

Philips, Asus, Pioneer and D&M hit with e-commerce fines

The European Commission just announced it's fining four consumer electronics manufacturers a total of €111 million for fixing online resale prices. "This is illegal under EU antitrust rules", EU Commissioner Margrethe Vestager said in a release. In effect, this system led to pricier appliances and devices than consumers would otherwise encounter. The conduct of Asus related to two Member States (Germany and France) and took place between 2011 and 2014.

The latest fines for Asian and European companies could strengthen the hand of European Commission President Jean-Claude Juncker when he meets U.S. President Donald Trump in Washington on Wednesday.

As a penalty, ASUS was fined a whopping 63.5 million euros (~US$74 million), Pioneer 10.2 million euros (~US11.9 million), Philips 29.8 million euros (~US34 million) and Denon & Marantz 7.7 million euros (~US$8.9 million). Meanwhile, Phillips was fined for actions in France alone; Denon & Marantz in Germany and the Netherlands; and Pioneer, with the most far-spanning antitrust behaviour, fined for antitrust behaviour in 12 countries.

China says there will be 'no winner' in global trade war
Chinese President Xi Jinping has pledged to invest almost 15 billion dollars on his state visit ahead of the BRICS summit today. Trade wars should be rejected because there will be "no winner" from such actions, Chinese President Xi Jinping said.

Recommended News

  • Fiat Chrysler CEO Sergio Marchionne’s health crisis forced succession scramble

    Fiat Chrysler CEO Sergio Marchionne’s health crisis forced succession scramble

    Under his direction and guidance, the automaker became debt free and was considered a profitable company once again. Last week FCA replaced Marchionne as CEO with Mike Manley, saying Marchionne's condition had worsened.
    Vast Lake Of Liquid Water Discovered On Mars

    Vast Lake Of Liquid Water Discovered On Mars

    Even if this new discovery is validated, experts are lukewarm about whether this body of water would be suitable for life. Orosei and colleagues used a radar instrument called MARSIS aboard the Mars Express spacecraft to make their discovery.
    Adored teen girl identified as victim in Toronto mass shooting

    Adored teen girl identified as victim in Toronto mass shooting

    Two people including a young woman have been killed and 12 more injured after a man opened fire in a Toronto neighbourhood. There has been no explanation for the knife attack, and the police are still seeking a motive for Hussain's rampage.
  • Facebook to launch its own internet satellite 'Athena' by next year

    Facebook to launch its own internet satellite 'Athena' by next year

    They are calling this satellite " Athena ", and the company is not saying anything much so far other than confirming it. In the 2018 messages, Facebook reps refer to a "small satellite experimental application for the Athena satellite".
    Karlie Kloss confirms engagement to 'soulmate' Joshua Kushner

    Karlie Kloss confirms engagement to 'soulmate' Joshua Kushner

    The Times said Kloss and Swift "continue to be good friends, and they talk frequently". Karlie Kloss is set to become the latest supermodel to say "I do" .
    Graphic novel features on Man Booker Prize longlist for the first time

    Graphic novel features on Man Booker Prize longlist for the first time

    The Castletroy resident and University of Limerick creative writing lecturer is one of 13 authors in contention for the prize. The Canadian's seventh novel, Warlight , is on a list featuring four debut works and four authors under the age of 30.
  • Manchester City vs Liverpool

    But while fans are relishing the prospect of a genuine title push, Klopp is focusing on the final two weeks of pre-season.
    Kuwaiti Instagram star blasts new law allowing Filipino servants to keep passports

    Kuwaiti Instagram star blasts new law allowing Filipino servants to keep passports

    The incident led to Kuwait's expulsion of the Philippine ambassador and the withdrawal of its own ambassador from Manila. Duterte asked the estimated 276,000 Filipino workers in the Gulf nation to return home.
    Ivanka Trump Is Closing Her Fashion Brand

    Ivanka Trump Is Closing Her Fashion Brand

    It only got worse when she didn't immediately resign her position with the company after accepting a position in the White House . A spokesperson for the Ivanka Trump brand said the decision to close the company is not related to the brand's performance.
  • Trump Looking To Meet Putin In 2019

    Trump Looking To Meet Putin In 2019

    In doing so he created a problem because he exposed his partner to fierce criticism in the United States". Ushakov said the two sides had not yet started work on organising the Washington meeting.
    'Game of Thrones' Final Season Premiere Details & Prequel News Revealed!

    'Game of Thrones' Final Season Premiere Details & Prequel News Revealed!

    The Prince who was Promised, Jon Snow (Kit Harington) will return for the final season. HBO's epic fantasy drama is by far the most popular television show in the world.
    Putin not welcome on Capitol Hill, GOP leaders say

    Putin not welcome on Capitol Hill, GOP leaders say

    The US President himself argued if Russian Federation had compromising material then "it would have been out long ago". Trump and Putin met in Helsinki a week ago behind closed doors, with no one else but their interpreters present.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.