The consumer association is taking legal action against TV manufacturer Samsung. The association believes that consumers who purchased TVs between 2013 and the end of 2018 overpaid due to the South Korean company’s market disruption.
During this period, Samsung pressured online retailers not to reduce TV prices below the recommended retail price. For this, the Consumer and Market Supervisory Authority imposed a fine of 39 million euros on the company in 2021.
“100 Euros per person”
According to the consumer protection association, consumers have the right to receive a refund of part of the price of their purchase. “On average it is around 100 euros per person,” says spokesman Gerard Spierenburg. The association estimates total damage at 500 million euros and is calling on customers to join the lawsuit.
Samsung denies that the company increased its sales prices. “Retailers have always had complete freedom to set their own retail prices, and Samsung has not used any means to limit this freedom,” the company said. “There is no basis for taking legal action in a civil case.”
Other brands
Consumers who purchase a brand other than Samsung can also join the consumer association. “Samsung kept its prices high, and as a result other brands kept their prices high as well,” says Spierenburg. “The bottom line is that everyone paid too much for television.”
Rival LG was fined for similar practices earlier this year. The appeal process against this sentence is still ongoing.
Source: NOS
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
