Türkiye slaps $1.1M fine on Japanese camera manufacturer Canon

The Turkish Competition Board has fined the Turkish distributor of Japanese camera manufacturer Canon ₺38.3 million (approximately $1.1 million) for interfering with independent reseller pricing.

The authority announced on Friday that an investigation into Canon Eurasia had been initiated on May 11, 2023. The investigation focused on allegations that Canon Eurasia violated Article 4 of Act No. 4054 on Competition Protection.

According to the findings, Canon Eurasia’s regional office had interfered with the pricing set by independent Turkish resellers for Canon products, including cameras, lenses, and other equipment.

The board held an oral defense meeting on June 4, concluding that Canon Eurasia had breached the competition law. As a result, the board imposed an administrative fine of ₺38.3 million on Canon Eurasia.

In their statement, the Competition Board emphasized the importance of maintaining competitive practices and ensuring fair pricing in the market. This decision highlights the regulatory measures in place to protect competition and prevent market manipulation by larger entities.