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Sony, Fuji, and Maxell fined $110M for videotape cartel
The EU just lashed Sony, Fuji, and Maxell with fines totaling €75 million ($110 million) on grounds of fixing the price of professional videotapes. The 3-way Japanese cartel controlling 85% of the professional videotape market was found guilty of artificially controlling prices on Betacam SP and Digital Betacam -- the two most popular professional videotape formats in use between 1999 and 2002. According to the EU commission, they "organized three successful rounds of price increases and endeavored to stabilize prices whenever an increase was not possible." Such naughty, naughty billionaires now reaping what they've sown.
