Samsung fined $47 million for price fixing in Netherlands

FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul, South Korea, August 25, 2017. REUTERS/Kim Hong-Ji/File Photo

AMSTERDAM (Reuters) - Electronics maker Samsung has been fined 40 million euros ($46.9 million) for price fixing in the Netherlands, Dutch competition watchdog ACM said on Wednesday.

The market regulator said Samsung had pushed up the prices of its televisions in the Netherlands for years, by constantly urging retailers to raise their prices if they were selling them below Samsung's preferred market rate.