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Sony fined millions by European Commission

November 22nd, 2007 · No Comments

Sony has been fined 47.19 million euros by the European Commission after being found guilty of participating in a European professional video tape cartel. Sony Corporation, Sony France SA and Sony Europe Holding BV have all been found guilty in an investigation which covered activities in the pro video market between 1999 and 2002. The company has also been charged with obstructing the EC investigation, something it strenuously denies.
In a prepared statement, Sony said: “We are very disappointed by the conduct described in the announcement, which involved a small number of employees located in Europe. While the details still need to be confirmed in the full text of the Decision, Sony wants to make clear that it does not approve of or condone conduct of the kind described in the announcement. We are sorry that it happened and express our sincere regret.”
The Japanese giant says that it remains committed to fully complying with all applicable competition rules, including the EU antitrust rules, and it does not contest the principal allegation.

Tags: Corporate · Trade

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