EU Hits Quartet Of Electronics Makers With $130m In Fines

[rainman + 263]

Brussels has fined four electronics makers — Asus, Denon & Marantz, Philips and Pioneer — €111m for illegally forcing online retailers to charge consumers higher prices. Margrethe Vestager, EU competition commissioner said: "The online commerce market is growing rapidly and is now worth over 500 billion euros in Europe every year. More than half of Europeans now shop online. As a result of the actions taken by these four companies, millions of European consumers faced higher prices for kitchen appliances, hair dryers, notebook computers, headphones and many other products. This is illegal under EU antitrust rules."  Laptop maker Asus was fined €63.5m, household appliance manufacturer Philips was hit with a €29.8m levy and two audio equipment producer also faced fines: Denon & Marantz was charged €7.7m and Pioneer €10.2m. All four companies acknowledged the facts of the case and provided evidence which resulted in a reduction of their fines.
 

[50 shades of black + 254]

From week to week, Brussels finds a way to fill budget. Last week Google.... 
 

[Pavel + 384]

If they have cheated (report says they did), than the EU made a good decision.

[franco + 96]

EU lives vicariously through suing successful foreign companies...