EU Raids Samung, Philips In Antitrust Probe

Friday, December 6, 2013

EU Raids Samung, Philips In Antitrust Probe

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The European Union's antitrust authorities said on Thursday they had raided a number of companies that manufacture, distribute and retail consumer electronic products and small domestic appliances.

Among those raided was Philips NV, Samsung Electronics and Media-Saturn, Europe's largest chain of consumer electronics stores.

"The Commission has concerns that the companies concerned may have violated EU antitrust rules that prohibit anticompetitive agreements or concerted practices," it said in a statement, without providing additional information.

The companies are were visited by European Commission officers on suspicion of breaking competition rules. The EC examines whether the compnaies worked together to limit the online sales of some goods in order to drive up prices.

All three companies said they were cooperating with the EU authorities.

The Commission's investigation is at a preliminary stage and may never lead to charges.