By Chris Nicholls

SYDNEY: TEAC Australia has issued a statement in response to the Australian Competition and Consumer Commission (ACCC) ruling that the company was guilty of resale price fixing.

In the statement, TEAC Australia acknowledged its retailers were free to determine retail prices of TEAC products.

TEAC said they had cooperated with the ACCC after it discovered the problem and admitted its liability at the earliest stage of proceedings. 

General manager James Phoon said they also “voluntarily and proactively took steps to inform its retailers that they are free to determine their own selling prices, as well as implementing trade practice compliance training.”

“TEAC Australia has put in place a strategy to ensure no further breaches of Trade Practices Act

“Integral to this strategy is the establishment of an education training and trade practices compliance program to highlight to employees their responsibilities and obligations.”

He said TEAC Australia was implementing the program in its offices across Australia.