Wednesday, 27 April 2011

UK to probe extended warranties on electrical goods

Britain's consumer affairs watchdog has launched a study into the 750-million-pound-plus ($1.2 billion) market for extended warranties on domestic electrical goods like televisions and washing machines.
The Office of Fair Trading (OFT) said on Thursday it would look at whether competition was limited by retailers' ability to sell warranties at the same time as selling domestic electrical goods, and at whether the warranties were good value for money.

"Consumers buy millions of extended warranties on domestic electrical goods each year and we want to make sure they are getting value for money," said Claudia Berg, director in the OFT's consumer and goods group.

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