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EU: Dawn raids shake electronics industry

 |  December 8, 2013

The European Commission announced late last week that it carried out raids of various offices of some of the largest consumer electronics companies as part of an investigation into anticompetitive practices.

While the Commission declined to name the companies involved, Philips, Samsung Electronics and electronics chain Media-Saturn, which is owned by Metro AG, confirmed they have been subject to EU raids following the Commission’s announcement.

The companies are under suspicion of colluding to limit product supplies to hike prices, though told reporters they are cooperating fully with the probe.

Full Content: Reuters and Wall St Cheat Sheet

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