COMPETITION
TV and video

Sony, Fuji and Maxell have been fined a combined total of E70 million by European competition regulators for artificially controlling the European videotape market between 1999 and 2002. The three companies control 85% of the professional tape market and in dawn raids in May 2002 the EC discovered evidence of meetings where prices were set and sensitive information swapped as well as three covertly organised price increases during the period. Sony paid a higher fine than the other two companies after employees refused to provide information and one was discovered to have shredded documents during te investigation.

The Times 21 November 2007