Türkiye fines camera maker Canon $1.1 mln
The Turkish distributor of Canon, a Japanese camera manufacturer, was fined $1.1 million by the Turkish Competition Board for influencing the pricing of independent resellers.
- Americas
- Anadolu Agency
- Published Date: 05:56 | 28 June 2024
- Modified Date: 05:56 | 28 June 2024
The Turkish Competition Board fined the Turkish distributor of Japanese camera manufacturer Canon $1.1 million for interfering with independent reseller pricing.
The authority said in a statement on Friday that an investigation into Canon Eurasia was launched on May 11, 2023, for allegedly violating Article 4 of Act No. 4054 on Competition Protection.
The investigation found that the Japanese firm's regional office interfered with the independent prices of Turkish Canon resellers on Canon-made products ranging from cameras to lenses and other equipment.
The statement said the oral defense meeting on June 4 concluded with the board ruling that Canon Eurasia violated the law, resulting in an administrative fine of 38.3 million Turkish lira (approximately $1.1 million).