Samsung has been fined around Rs 350 crore for allegedly selling products at exorbitant prices

Allegations that Samsung forced all retailers to sell products at higher prices

The Dutch consumer watchdog has fined tech giant Samsung 48 million, or about Rs 350 crore. The allegations against the South Korean company put "excessive" pressure on online retailers in the Netherlands to sell television sets at exorbitant prices.It is known that from 2013 to 2016, retailers in the Netherlands wanted to sell televisions at the price they wanted. However, Samsung at that time forced all retailers to sell products at higher prices, which is against the rules of market competition. However, Samsung categorically denied the allegations and said it would appeal the decision to the Dutch Consumer Forum.

On Wednesday, Dutch consumer watchdog filed a lawsuit against electronics giant Samsung for violating the rules

According to the rules of the Netherlands Authority for Consumers and Markets (ACM), domestic retailers can set the price of their television at their discretion. However, this rule does not apply to Samsung or any other company. Martijn Snoep, Chairman of the ACM Board, said: As a result, consumers have to buy TVs at higher prices. ”

It was further alleged by ACM that Samsung had also sold older models at higher prices by fixing the price. As a popular company, retailers have been forced to sell their TVs.

Samsung has expressed anger over ACM's decision

The Dutch consumer watchdog said that during the investigation, they confiscated e-mails and WhatsApp chats sent by Samsung to retailers as evidence. In this case, Samsung expressed frustration with the decision of the ACM, said that the decision will be appealed soon and they have never violated the market competition rules.

Source:Tech Gup