Competition Authority fines Samsung, LG and SVS
As a result of the investigation carried out by the Competition Authority against Samsung Electronics Istanbul Pazarlama ve Ticaret Limited Şirketi, LG Electronics Ticaret AŞ and SVS Durable Consumer Goods Marketing Trade Limited Company, the companies were fined.
It was alleged that Samsung, LG and SVS violated Article 4 of Law No. 4054 on the Defense of Competition when determining resale prices.
Based on the result of the investigation, the Competition Board decided to impose administrative fines on three companies. Consequently, an administrative fine of TL 227.16 million was imposed on Samsung for its annual net income. While LG’s fine was TL 33.87 million, SVS was also fined TL 1.98 million.
The decision, which was open to objections, was unanimous.
WHAT HAPPENED?
Samsung allegedly infringed competition through the resale price fixing of LG and SVS (where the upstream manufacturer dictates a price for the sale of the product to a downstream reseller).
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
