Turkish Competition Authority levies fines on leading electronics companies

The decision comes after thorough investigations into allegations of violations concerning the pricing of white goods and electronic devices.

Initiated in 2021, the investigation was based on claims that the four aforementioned companies had violated Article 4 of Law No. 4054 on the Protection of Competition, particularly by engaging in resale price fixing practices.

After receiving the companies' respective defenses, Turkish Competition Authority has now concluded the inquiries, resulting in the imposition of substantial administrative fines.

Among the fines to be imposed, 'Arçelik' will face a fine of 365 million 379 thousand 161.06 Turkish Lira, while 'Samsung' is set to pay an administrative penalty of 227 million 161 thousand 142.04 Turkish Lira. Similarly, 'LG' will be subject to a fine of 33 million 870 thousand 305.21 Turkish Lira, and 'SVS' is to pay 1 million 984 thousand 907 Turkish Lira.

These fines reflect Turkish Competition Authority's commitment to maintaining fair market practices and ensuring that companies adhere to regulations aimed at promoting healthy competition within the sector. The decision serves as a reminder of the vigilance exercised by regulatory bodies to safeguard consumers' interests and prevent anti-competitive behaviors.

The verdict marks a milestone in the ongoing efforts to uphold transparency and fairness within the electronics and white goods industry, promoting a level playing field for businesses and ensuring consumer welfare. (ILKHA)