Business Notes CONSUMER ELECTRONICS

If Panasonic products seemed a bit pricey last year, the reason has become clear. Between March and August, some of the company's U.S. representatives allegedly resorted to classic pressure tactics to shore up profits that had been eroded by price wars. Panasonic threatened to cut off deliveries to retailers that discounted Panasonic goods. Among the targets: K mart, Montgomery Ward and Circuit City. Last week Panasonic, a division of Japan's Matsushita, settled charges of price fixing with the New York State attorney general's office. While Panasonic admitted no wrongdoing, the company agreed to refund as much as $16 million to an estimated 748,000 U.S. consumers who were overcharged. The refunds, on such products as videocassette recorders, camcorders and answering machines, will range from $17 to $45.