Saturn fined €1.23 million for price fixing

Saturn fined €1.23 million for price fixing
Saturn store in Hamburg. Photo: Staro/Wikimedia
The Austrian operations of Media Saturn, one of Germany's largest chains of electronics stores, has been fined €1.23 million for price-fixing, it was reported today in Heise Online.

In the period from October 2009 to early 2013, 'vertical price agreements with companies in the Electrical Industry' were illegally created, according to the statement of Austrian federal competition agency, the BWB.

Specifically, one of the goals of the price fixing was to prevent competition through online sales channels.

Two additional electrical companies who received fines include Pioneer Germany, who were levied with €350,000 and SSA Fluidra Austria with €50,000.

The BWB continues to target companies for similar practices in the electronics industry, with another €2 million of fines expected shortly.

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