Samsung a well-known manufacturer was involved in unfair business practices for six years, but the South Korean tech firm has now been ordered to play fair with retailers. Yes, the US Fair Trade Commission has instructed Samsung to put an end to its unfair treatment.
Samsung unfair business practices US
As per the information, retailers were required to provide Samsung with a retail price for their products including refrigerators and washing machines. With these unfair business practices, the South Korean tech giant has obtained prices of 15,389 products from 159 agents in the US till 2020.
Notably, the retailers faced this unfair treatment from Samsung from January 2017 till September 2023 before the firm itself fronted a regulatory probe from the agency. Source says, Samsung utilized that retail price to evaluate the performance of its agencies and grant employees incentives.
Therefore, the US Fair Trade Commission has taken a strong stance against unfair business practices and continuously monitoring the condition. Consequently, this action of the US FTC is a significant step toward protecting the rights and interests of retailers.
JOIN US ON TELEGRAM
An Fair Trade Commission official said,
- “Such a practice constitutes an interference of business operations that violates the country’s fairness of franchise transactions act. Information on sales margins is deemed confidential as it could affect contract terms and conditions between the two sides.”
