updated 08:56 am EST, Fri December 6, 2013
Companies accused of limiting online sales
European Commission agents have reportedly raided corporate offices of Samsung, Philips and retail giant Media-Saturn, as part of an investigation over improper price manipulation, according to a Reuters report. Regulators believe the companies may have colluded to limit online distribution in an attempt to artificially inflate prices.
Both Samsung and Philips have been implicated in other European Union schemes, allegedly participating in a price-fixing cartel with five other display manufacturers between 1996 and 2006. The EC handed down a $1.92 billion fine for the anticompetitive practices.
The European Commission has yet to fully detail its latest investigation, though the companies are said to face potential fines of up to 10 percent of global revenue for violating EU antitrust regulations.
The companies named in the investigation have yet to publicly comment on the matter.