Electronics major Philips raided by European Commission

The Hague, Dec 6 : Inspectors from the European Commission conducted searches at Duttch electronics company Philips as part of an investigation of online sales by several electronics companies, Dutch media reported Friday.

Philips stated that the company "fully cooperated" with the investigations. "No further information can be given, because the investigations are still ongoing," Xinhua quoted a company spokesperson as saying.

The European Commission announced Thursday that several companies involved in making and selling consumer electronics and small domestic appliances were searched as it was concerned that the firms worked together to limit the sale of some goods online to drive up their prices.

Several other companies such as German Metro and Samsung are also part of the probe.

In 2012, Philips was told to pay a fine of 313.4 million euros by European Union anti-trust regulators for price-fixing deals.

--IANS (Posted on 06-12-2013)

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