Piano and keyboard-maker Casio has hit a bum note after it was handed a £3.7 million (US$4.5 million) fine by the UK’s competition watchdog for rigging prices.
The Competition and Markets Authority (CMA) stated the electronics giant broke competition law by preventing retailers from selling its products at lower prices.
Casio admitted that, between 2013 and 2018, it stopped online retailers discounting the price of its digital pianos and keyboards.
The supplier confessed to breaking competition law by requiring retailers to sell products at or above a minimum price, stopping customers from shopping around for the best deal.
The watchdog handed Casio a £3.7 million fine for breaking the law, which it stated was the “largest ever fine for this type of offense.”
Full Content: Yahoo, Financial Times, Gov UK
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