Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

China hands Microsoft administrative fine over Xbox venture

Published 09/29/2015, 05:52 AM
© Reuters. A Microsoft Xbox video game logo is seen at the Electronic Entertainment Expo, or E3, in Los Angeles

BEIJING (Reuters) - Microsoft Corp (O:MSFT) and its Chinese partner in an Xbox game console venture have been fined by China's commerce ministry for breaching antitrust rules but escaped serious punishment after it deemed they did not hamper free market competition.

Microsoft and Shanghai Oriental Pearl Media Co Ltd (SS:600637), known as BesTV, were fined 200,000 yuan ($31,430)each for failing to report to antitrust regulators that their joint venture exceeded a market share threshold that usually triggers a disclosure requirement.

Microsoft and BesTV formed a venture in 2013 to bring the Xbox to China after the government lifted a 14-year ban on consoles.

The Xbox investigation, which did not find Xbox in serious violation of any antitrust rules, was unrelated to an ongoing probe by China's National Development and Reform Commission into Microsoft's Windows operating system and Office software sales practices.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.