Samsung has penalized $46 million (about Rs 350 crore) following the accusation of pressuring online merchants in the Netherlands to keep the costs of smart TVs as per their want. Research reveals that from 2013 to 2018, stores were forced to sold television at a set price.
Netherlands Authority for Consumers and Markets on Wednesday (ACM) had termed this action taken by Samsung as a violation of market competition guidelines and issued a sanction. This is because in Netherland the merchants are free to set their own prices for televisions.
According to Martijn Snoep, chairman of the ACM Board of Directors, “merchants hiked the value of televisions in response to Samsung’s price hike plan”, as a result, the client paid a high price for television.
Although, no company can compel merchants to agree to a cost decided by the manufacturer. A watchdog reveals that Samsung’s e-mails and WhatsApp messages to merchants were confiscated.
However, following the accusation Samsung has clarified that none of the regulations have been broken by them and it will file an appeal in this instance. Samsung has voiced its dissatisfaction with ACM’s verdict.