Asian Tech Press (Sep 30) -- Samsung Electronics Co., Ltd., the world's largest TV vendor, has reportedly been fined 39 million euros ($45.3 million) by the Dutch market regulator for illegally raising TV prices.

The Netherlands Authority for Consumers and Markets (ACM) announced the penalty to the Benelux branch of the South Korean electronics giant on Wednesday, the NL Times reported.

The regulator said Samsung had inflated the prices of Samsung TVs between 2013 and 2018 by interfering with online dealers, resulting in a loss of interest for Dutch consumers.

In response, Samsung said it would take legal steps against the fine.

(€1=US$1.1606)