EU Fines Sony For Videotape Price Fixes

The EU has handed out almost $110 million in fines to three companies (Sony, Fuji and Maxell) for fixing the prices on VHS tapes. Sony's fine was increased by 30 percent for obstructing the investigation.

"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.

Comments