Competition Council fines Altex, Flanco, eMag and Samsung Romania for anti-competitive practices

Romania's Competition Council announced on February 8 that it sanctioned SEROM (Samsung Electronics Romania and Bulgaria), Dante International (eMag), Altex Romania, and Flanco Retail with RON 123 million. The four companies allegedly participated in an anti-competitive agreement on the TV and mobile phone sales market in the period 2019-2021, which resulted in higher prices for customers.

SEROM got the highest fine, of some RON 75.4 million, while Altex Romania was sanctioned with RON 21.3 million. At the same time, Dante International got a fine of over RON 20.3 million and Flanco Retail RON 6.22 million.

"The anti-competitive agreement consisted in fixing the resale prices of some products by SEROM and each of its trading partners, namely Altex, Dante, and Flanco, which limited the three retailers' ability to independently set their resale prices. This restricted competition at the retail level, affecting consumers, who paid higher prices for certain types of televisions and mobile phones," the Competition Council said.

According to the institution, TVs and mobile phones are some of the most important electronic and communications products.

Competition law prohibits any agreements between companies and coordinated practices that prevent, restrict, or distort competition on the Romanian market, particularly those that establish purchase or sale prices or any other trading conditions.

The Competition Council said its decisions are enforceable, and the tax agency ANAF implements the sanctioning decision and executes the fines.

(Photo source:Anna Demidova/Dreamstime.com)