Apple rejects iPhone price-fixing allegations in Russia
- Stocks dip as earnings pour in, consumer discretionary lags
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
- Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
A man holds an iPhone 6 in a mobile phone shop in Moscow September 26, 2014. REUTERS/Maxim Shemetov
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
MOSCOW (Reuters) - Apple Inc on Tuesday rejected allegations from Russia's state competition watchdog it may have been involved in fixing prices for iPhones, saying resellers set their own prices.
Apple reacted a day after Russia's Federal Anti-Monopoly Service (FAS) said it had opened a case into the allegations after a consumer had pointed out 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.
Apple, in emailed comments, said it did not oblige Russian resellers to fix prices for its products.
"Resellers set their own prices for the Apple products they sell in Russia and around the world," the company's press office said.
FAS said it was looking into the idea that Apple had somehow obliged Russian resellers to treat its recommended product prices as mandatory. It said an investigation had shown that retailers had set identical prices and kept them at that level for a certain time period, including for other models.
FAS has the power to fine firms it finds guilty of price-fixing.
(Reporting by Maria Kiselyova; Editing by Andrew Osborn)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Apple (AAPL) Launches All-New MacBook Pro; Will Start at $1,499
- Volatility and Volume movement
- Streetinsider.com's Hot Lunchtime Reads 10/26: (AAPL) (HPQ) (MAS)
Create E-mail Alert Related CategoriesLitigation, Reuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!