Hong Kong Competition Watchdog Raids 11 Locations Over Alleged VR Contract Bid-Rigging
Hong Kong's competition watchdog conducted raids on 11 offices and homes as part of an operation named 'Lens,' alleging bid-rigging, price-fixing, market-sharing, and the exchange of sensitive information related to contracts for virtual reality systems valued at approximately HK$10 million.
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According to the South China Morning Post, Hong Kong's competition watchdog conducted searches at 11 offices and residences following complaints regarding alleged price-fixing concerning contracts for the supply of virtual reality (VR) systems to schools and non-profit organizations, with the total value of these deals being HK$10 million.
The Competition Commission announced on Friday that it had obtained warrants and searched the 11 locations, which included premises belonging to various IT service and equipment providers, other companies, and the homes of several individuals, as part of an operation that took place the day prior and was designated as “Lens.”
The watchdog stated that the companies were accused of participating in bid-rigging, price-fixing, market-sharing, and the exchange of competitively sensitive information while submitting quotations for VR equipment and software installation services to different schools and non-profit organizations. The contracts in question were valued at approximately HK$10 million, which is equivalent to US$1.3 million.
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