LG Electronics' Russian arm charged with antitrust violation

By a2017001

Published : June 29, 2017 - 10:46

Russia's state antitrust body indicted LG Electronics Inc.'s Russian arm on allegations that the South Korean company fixed smartphone prices, industry sources said Thursday.

According to Russia's Tass news agency, the authority claimed that LG Electronics RUS used a special monitoring system on retailers to control smartphone prices.

(Yonhap)

The South Korean tech giant is expected to face massive fines if the allegations turn out to be true.

LG Electronics RUS said other companies also use monitoring systems to track devices' sales prices, and that the claim made by the authority is partly exaggerated.

LG Electronics released its flagship G6 smartphone in Russia in April. (Yonhap)