Sign inSennheiser and Sonova fined in Germany for price fixing
Price fixing is a illegal tactic whereby business entities - usually competitors agree to set prices above a competitive level, often to maximize profits. The practice is investigated and prosecuted by agencies, such as the German Federal Cartel Office (FCO), to promote fair competition.
Bundeskartellamt HQ, Germany.
iStock - designer491
The German Federal Cartel Office (the Bundeskartellamt) has imposed fines totalling almost 6 million euros on Sennheiser and Sonova Consumer Hearing Sales Germany. The fines are for vertical price fixing taking place from 2015 to 2022, and they apply not only to the two companies, but to three employees.
The cartel regulation agency will be releasing more details shortly when it publishes the case summary on its website. Sonova has said it will not comment on individual employees.
A dawn raid as proceedings began
The orders imposing the fines are final and the FCO decided not to impose fines on the retailers involved. In its announcement, the FCO outlines that high quality consumer electronics products, particularly headphones, are sold under the...
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