April 26, 2024
LG
LG charged with antitrust violation in Russia
[THE INVESTOR] Russia’s state antitrust body indicted LG Electronics on allegations that it fixed smartphone prices, industry sources said on June 29.
According to Russia’s Tass news agency, the authority claimed that LG Electronics RUS used a special monitoring system on retailers to control smartphone prices.
The Korean tech giant is expected to face massive fines if the allegations turn out to be true.
LG Electronics RUS said other companies also use monitoring systems to track devices’ sales prices, and that the claim made by the authority is partly exaggerated.
By Alex Lee and newswires (alexlee@heraldcorp.com)
According to Russia’s Tass news agency, the authority claimed that LG Electronics RUS used a special monitoring system on retailers to control smartphone prices.
The Korean tech giant is expected to face massive fines if the allegations turn out to be true.
LG Electronics RUS said other companies also use monitoring systems to track devices’ sales prices, and that the claim made by the authority is partly exaggerated.
By Alex Lee and newswires (alexlee@heraldcorp.com)
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