💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Russia says investigating iPhone price-fixing allegations

Published 08/08/2016, 10:08 AM
Updated 08/08/2016, 10:12 AM
© Reuters. A man holds an iPhone 6 in a mobile phone shop in Moscow
AAPL
-

MOSCOW (Reuters) - Russia's Federal Anti-Monopoly Service said on Monday it had opened a case into price-fixing allegations concerning Apple (NASDAQ:AAPL) iPhones.

"The Anti-Monopoly Service sees signs of price fixing violations in the Russian Federation at Apple iPhone resellers, which resulted in the same prices for these smartphones," it said in a statement.

A representative for Apple in Russia was not immediately available for comment.

The anti-monopoly body said it had opened its case after an appeal from a citizen with information that identical prices had been set for iPhone 6s and iPhone 6s Plus models, which appeared in Russia in October 2015, at 16 major resellers.

It said that an investigation had showed that resellers had set identical prices and kept them at that level for a certain time period, including for other models.

MTS, one of the resellers mentioned in the anti-monopoly service's statement, declined a request for comment.

Euroset, another firm mentioned, denied it had coordinated prices with anyone.

© Reuters. A man holds an iPhone 6 in a mobile phone shop in Moscow

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.