Samsung and Philips among tech firms raided by EU

[KingsOfTheDay]

6 December 2013 Last updated at 12:39 GMT

Samsung and Philips among tech firms raided by EU

Samsung and Philips are the only two companies who have admitted to the raid

Samsung and Philips have revealed that they were among several consumer electronics companies raided recently by European Commission inspectors.

Thursday's raid focused on companies making and selling consumer electronics products and small domestic appliances.

The Commission said it was concerned these firms had colluded in restricting online availability of some products in a bid to drive up prices.

Both Samsung and Philips said they were co-operating with the authorities.

The alleged offence would be in breach of European competition rules.

"The Commission has concerns that the companies concerned may have violated EU antitrust rules that prohibit anticompetitive agreements or concerted practices," it said in a statement.

The Commission did not give details of the companies it had visited.