LG fined in Russia for smartphone price fixing
The Federal Antimonopoly Service in Russia has fined LG Electronics 2,500,000₽ or just under $40,000 for coordinating its resellers to sell its smartphones at one price.
The FAS implies that LG rigorously kept track of resellers through algorithms to see if they were selling merchandise at the recommended price point. This practice lasted for more than a year.
Earlier this year, LG admitted to and agreed to voluntarily terminate its practice of price fixing, mitigating the penalty.