Samsung fined Rs 350 crore, know what was the reason

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samsung
Considering Samsung's price-fixing act against the rules of market competition in the Netherlands, the fine was announced. A fine of around 350 was announced on Wednesday by the Netherlands Authority for Consumers and Markets.

Samsung has been fined a whopping $46 million (about Rs 350 crore) on behalf of the Dutch consumer watchdog. It is alleged that Samsung pressured online retailers in the Netherlands to fix the price of their desired smart TVs. Retailers were selling television at a fixed price from 2013 to 2018. However, Samsung was asked to increase this price, due to which the customer had to pay a higher price. This action of Samsung was considered against the rules of market competition in the Netherlands. And the fine was announced on Wednesday by the Netherlands Authority for Consumers and Markets (ACM).

This caused trouble 

Let us tell you that retailers are free to fix the price of television according to their own. But this was not the case with Samsung. ACM Board Chairman Martijn Snoep said that retailers increased the price of televisions because of Samsung's proposal to increase the price. Due to which the consumer got television at an expensive price. Whereas no television manufacturing company can pressurize the retailers to fix the price.

Samsung expressed displeasure 

Such practice of Samsung at such retailer level is against the rules. The watchdog said that during its investigation, e-mails and WhatsApp made by Samsung to retailers have been seized as evidence. In this case, Samsung says that it will appeal against the decision. Samsung has expressed displeasure over the decision of ACM. The company says that the rules have not been violated on its part.