Apple has been found guilty of fixing the price of iPhones in Russia for several years.
Russia’s antitrust regulator, the Federal Antimonopoly Service, said on Tuesday that Apple’s local subsidiary coordinated the price at which businesses were allowed to sell its phones. If sellers tried to discount an iPhone, Apple would email them and ask for it to be changed; failing to do so could have led to their contract being terminated.
Apple is said to have done this for the last several years of phones, from the iPhone 5 through the iPhone 6S. The Russian news agency TASS reports the regulator did not find signs of price coordination for the iPhone 7.
Russia’s antimonopoly regulator said that Apple cooperated with the investigation and has ended its price fixing practices and has also agreed to set up antitrust compliance and training protocols to prevent the company from trying the same thing again in the future.
Full Content: The Verge
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DOJ and FTC Introduce Website for Reporting Anti-Competitive Healthcare Practices
Apr 18, 2024 by
CPI
US Congress Advances Legislation to Compel TikTok Sale
Apr 18, 2024 by
CPI
UK Financial Sector Advocates Enhanced Regulatory Accountability
Apr 18, 2024 by
CPI
Google and All 50 States Defend $700 Million Consumer Settlement
Apr 18, 2024 by
CPI
Colorado Enacts First Law to Protect Consumer Brainwave Data
Apr 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI