Sony, others named in video tape price-fixing scheme
Seems we can't have a month go by without another industry-wide price fixing scandal. Today's cartel was bent on fixing the prices of professional-grade video tapes used in television. An infamous list of swindles which includes DRAM, LCDs, and online-music just to name a few. While the EU regulators citied "several companies," only Sony would confirm that they were charged with the crime. Fingers are also wagging in the direction of Panasonic, Fujifilm, Hitachi Maxell and TDK but all declined to comment on the matter. So innocent until proven guilty, mkay. The EU's charges are based on raids it made in 2002 as well as information received since, under a leniency program. Companies now have two months to respond. If guilty, companies could be fined as much as 10% of their annual global sales. Oh my.
