Battery manufacturers Sony, Panasonic and Sanyo are fined €166 million

Sony, Panasonic and Sanyo have been fined €166 million by the European Commission for cartel formation in the battery market. Samsung SDI was also part of the cartel, but because this company has served as a whistleblower, it avoids the fine.

According to the European Commission, between 2004 and 2007, Asian companies agreed on temporary price increases for batteries and exchanged sensitive information such as demand, supply and price forecasts. The secret cooperation between the companies mainly took place in Asia, but at times it also involved Europe.

If Samsung SDI had not informed the other companies, the amount of the fine for the South Korean company would be 58 million euros. Sony must pay 30 million euros, Panasonic 39 million and Sanyo 97 million. The amounts vary based on variables such as sales in the EU, length of involvement and cooperation with the investigation.

“The decision we took today sends a clear message to companies: if European consumers are affected by a cartel, the European Commission will investigate, even if these collaborations take place outside Europe,” said Margrethe Vestager, European Commissioner for Competition. the announcement of the measure.