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India Launches Antitrust Investigation into XIAOMI-W and Others, Unveiling Collusion with E-commerce Firms: Report
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Reuters cited a report from the Competition Commission of India (CCI) indicating that several smartphone companies, including XIAOMI-W (01810.HK) and Samsung Electronics (SSNLF.US), are suspected of colluding with Amazon (AMZN.US) and Flipkart, an e-commerce company owned by Walmart (WMT.US). It is reported that these smartphone companies' practice of exclusively selling products on Amazon's and Flipkart's Indian websites violates local antitrust laws. Another CCI report mentioned that the Indian subsidiaries of companies such as Vivo, LENOVO GROUP (00992.HK), and Motorola (MSI.US) have adopted similar collusive practices. Both reports stated that Amazon and Flipkart deliberately downplayed the accusations of "exclusive product sales" during the investigation, but Indian officials later discovered rampant collusion. AAStocks Financial News |
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