The European Commission has fined Japanese battery manufacturers for price collusion
The European Commission yesterday announced the decision to fine three of Japanese producers of lithium-ion batteries for 166 million euros for price collusion. Allegedly, unscrupulous manufacturers deliberately fixed prices on specified products during the period from 2004 to 2007.
The Japanese cartel members and the South Korean company Samsung SDI agreed on the temporary price increases and exchanged confidential information, including forecasts and plans concerning the relationship with the manufacturers of smartphones, laptops and power tools. These actions were aimed at reducing competition.
Sony fined for 29.8 million euros, the Panasonic — by 38.9 million euros, Sanyo with 97.1 million euros. Samsung SDI has avoided penalties as it informed the European Commission about the existence of the conspiracy. The European Commission noted that the existence of cartel is acknowledged by all its members.