Apple Faces Fine in Russia After Being Charged with Fixing iPhone Prices

Last August, Russia’s Federal Antimonopoly Services launched an investigation into Apple over alleged price-fixing of iPhones sold in the country. Apple denied any involvement in the matter and stated that retailers set their own prices for products.

After a lengthy investigation, Russian officials reached the conclusion that Apple had indeed fixed prices of iPhones in the country, according to The Financial Times. Apple was found guilty of fixing prices of the iPhone 5 and iPhone 6 models.

Apple had instructed 16 retailers in Russia to set prices for the two iPhone models at a certain level. If a retailer didn’t comply and sold the price at an “unsuitable” level, Apple would order them to change the price or risk having the sales agreement terminated.

Prices for mu… (read more)

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