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EU charges companies of price-fixing in videotape products
Last Updated(Beijing Time):2007-03-21 13:46

The European Commission confirmed on Tuesday that several companies had been charged with fixing the prices of professional videotape products.

A Statement of Objections, a formal step in EU antitrust investigations, has been sent to "a number of undertakings regarding their alleged role in a cartel for professional videotape," which restricted competition in the market, the Commission said.

Though the EU antitrust watchdog did not name any specific company, the Japanese electronics company Sony later acknowledged that it was among those companies targeted.

The Commission said that the videotapes concerned are for professional use, which serve to record optical signals produced by a camera, a computer or other means. They are suited to fit special video recording equipment which is nearly exclusively used by professionals like TV stations and independent producers of TV content and advertising films.

The charges were based on the results of inspections carried out in 2002, the Commission said.

The companies have two months to defend themselves in writing and they can ask the Commission to hear their case at an oral hearing after the written reply is received.

The Commission will then take a final decision, which may be accompanied by fines of up to 10 percent of a company's worldwide annual turnover. 

Source:Xinhuanet