EU fines three lithium-ion battery makers

lemon batteryThe European Commission has fined three Japanese makers of rechargeable lithium-ion batteries $176.2 million for their involvement in a price-fixing cartel from 2004 to 2007.

The Commission said that Sony, Panasonic, Samsung and Sanyo agreed on temporary price increases and exchanged commercially sensitive information, such as forecasts or plans concerning bids for manufacturers of phones, laptops or power tools.

Sony received a fine of 29.8 million euros, Panasonic of 38.9 million euros and Sanyo 97.1 million euros. Samsung grassed the cartel up to the Commission.

The Commission said that all the companies had acknowledged their involvement in the cartel and had agreed to settle the case.

European competition commissioner Margrethe Vestager said the fines sent an important signal to companies.

“If European consumers are affected by a cartel, the Commission will investigate it even if the anti-competitive contacts took place outside Europe,” she said.