EU regulators fined Sony Corp., Fujifilm Holdings Corp. and Hitachi Maxell Ltd. $111 million for allegedly fixing professional-videotape prices in Europe.

"Between 1999 and 2002, Sony, Fuji and Maxell managed to raise or otherwise control prices through a series of regular meetings and other illicit contracts," the European Commission said.

The three companies, with a combined market share of more than 85 percent, had 11 separate meetings that resulted in three successful price increases in the professional-videotape market to television stations, independent TV producers and makers of advertising films, the commission said.

The commission imposed the biggest fine, $70 million, on Sony because the conglomerate allegedly obstructed the commission's investigation, the commission said.

"Obstructing a commission's antitrust investigation leads to severe penalties," Competition Commissioner Neelie Kroes said.

The other companies had their penalties reduced because they cooperated with the probe, the commission said. Fuji received a $19.5 million fine, reduced 40 percent, and Maxell $21.3 million, down 20 percent.

The companies said they would respond after studying the commission's decision. Maxell said it hadn't decided whether to appeal.

On top of the fines, the commission said the three companies could face legal damages if their customers take them to court and prevail.  // Copyright 2007 by United Press International



Publication date: 20 November 2007   

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