EU fines Sony, Sanyo and Panasonic for price-fixing batteries

[G.O.G]

The European Commission has announced that it has fined the Japanese, Sanyo and Panasonic companies Japan, 166 million euros for pacing the price and exchanging commercial information of the lithium batteries of the electronic devices.

The business cartel was set up in February 2004 and was active until November 2007. Samsung also participated in it, but the South Korean company has not been imposed the economic penalty because it was the one who communicated the existence of this pact that breaks the rules of Competition. The three corporations have acknowledged their participation in the cartel, and in particular Sony will pay 29.8 million, Sanyo 97.1 million and Panasonic 38.9 million.

The European Commission's investigation has revealed that the four companies agreed to temporary price increases caused by an increase in the cost of cobalt, a raw material used in the production of batteries. In addition, they exchanged sensitive business information related, for example, to supply and demand forecasts, among other issues.

Although most price-fixing and information-sharing meetings took place outside the European Union, the Commission considers that the cartel agreements affected millions of European citizens, which is why the fine is imposed.

"Millions of Europeans use laptops, mobile phones and power tools that use lithium-ion batteries," Competition Commissioner Margrethe Vestager said in a statement. "Today's decision penalizes four rechargeable battery manufacturers whose collusion has affected the prices of some of the products sold to European consumers."

In addition, with this penalty, Brussels warns companies that it will investigate any action affecting European consumers that does not comply with Community competition law, regardless of whether agreements are reached outside European borders.