Competition Commission searches 11 premises in probe into price-fixing cartel involving virtual reality systems

The Competition Commission searched 11 premises under court warrants to investigate a price-fixing cartel involving virtual reality systems. The suppliers involved were suspected of bid-rigging, price-fixing, market-sharing and exchanging sensitive information when submitting quotations for the installation of VR equipment and software to a number of schools and non-profit organisations, in contravention of the First Conduct Rule of the Competition Ordinance. The preliminary estimate puts the total value of the contracts involved at about HK$10 million.