EU fines Sony, Fuji and Maxell for price fixing cartel
Sony gets hit hardest for trying to cover it up
20 November 2007 16:03 GMT / By Amy-Mae Elliott
The European Commission has fined Sony, Fuji and Maxell 75 million euros, about £54 million, for price fixing videotapes.
"Between 1999 and 2002, Sony, Fuji and Maxell managed to raise or otherwise control prices through a series of regular meetings and other illicit contacts", the European Union executive said in a statement.
"This decision sends two warnings to companies engaging in cartel activities."
Sony has fined 30% more than the other two companies, a total of 47 million euros, for trying to cover up the investigation. Fuji and Maxell co-operated and have been fined 13.2 million and 14.4 million euros respectively.
The "cartel" controlled 85% of the market in the professional videotape formats of the day, Betacam SP and Digital Betacam.
Latest in Home Cinema
Latest on Pocket-lint
-
HOME CINEMA
Apps We'd Like On Google TV
-
HOME CINEMA
Google, Intel, Sony Building TV
-
HOME CINEMA
BBC iPlayer To Get Facebook And Twitter Action
PHONES
HTC HD3: HTC's Windows Phone 7 Series offering? Could this be the follow on to the HD2?
CAMERAS
Canon PowerShot SX210 IS camera An ideal travel camera?
PHONES
10 reasons to switch to Android Why it's high time to consider Google's mobile offering
Comments