Asus, Philips, Pioneer, and D&M fined for price fixing in Europe

Some of the largest consumer electronics manufacturers are being hit with big fines today as a result of online retail price fixing in Europe.

The European Commission, an institution tasked with promoting the general interest of the European Union and carrying out its day-to-day business, announced that the four electronics manufacturers — Philips, Asus, Denon & Marantz, and Pioneer — would receive millions of dollars in fines due to each company’s unlawful behavior. As The Verge reports, there was no collusion between the four companies, but each company engaged in the same price fixing practices. Read more...