Philips, Samsung offices raided by European Commission

AMSTERDAM/FRANKFURT: Philips, Samsung Electronics and Media-Saturn, Europe's largest chain of consumer electronics stores, said they were among companies visited by European Commission officers this week on suspicion of breaking competition rules.

The Commission said its officers had raided several companies involved in making and selling consumer electronics and small domestic appliances, concerned that the firms had worked together to limit the sale of some goods online to drive up their prices.

It did not give the names or locations of the companies inspected by its officers on December 3.

The investigation comes as traditional electronics retailers wage a fierce battle with online rivals such as Amazon.

The EU antitrust regulator can fine companies up to 10% of their global revenue for breaking EU rules.

All three companies said they were cooperating with the EU authorities, but declined any further comment.

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