[THE INVESTOR] The Fair Trade Commission said on Sept. 27 that it will impose a fine of 305 million won (US$274,500) on Sony Korea for setting the price floor for its online camera sales.

The firm forced its Internet dealerships to sell Sony-branded digital cameras and camcorders at above a certain price level between February 2011 and August 2013, with penalties given to violators, according to the antitrust watchdog.

As a result, only 5 to 10 percent discounts had been given to South Korean online shoppers, the watchdog added.

The company takes up 84 percent of the South Korean camcorder market, with a 20-percent share in the digital camera market and a 51-percent share of the mirrorless camera market.

“Sony Korea’s practices have limited competition among online distributors and deprived consumers of the chance to buy products at a cheaper price,” the FTC said.

“Such price restrictions have an adverse effect on the online market, similar to that of price-fixing among retailers.”

(theinvestor@heraldcorp.com)