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.

Russia, for its political isolation, is a vital market for most mobile technology companies’ marketing strategy and competition has been growing steadily by the month.

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Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.