The EC is fine with 166 million to various manufacturers for agreeing on prices of batteries

ce

European Commission has unveiled today the fine imposed on three famous electronics manufacturers such as Panasonic, Sony and Sanyo. A penalty amounting to the incredible amount of 166 billion euros, which has been imposed by agreeing prices and exchanging information of batteries used by millions of users, such as lithium-ion rechargeable batteries.

These three manufacturers are not the only culprits since a fourth was also put in the garlic, the Korean company Samsung SDI, which is coping well in the situation, since that was the one that confessed to the existence of the cartel to Brussels, and therefore has not been penalized as the others.

manufacturers agreed on price increases

The four companies involved agreed increases temporary price between the years 2004 and 2007 due to the increase in the cost of cobalt which is the raw material for these batteries. But not only were prices, in addition to exchanged the information to make more precise forecasts of the demand and supply of the batteries.

BELGIUM-EU-VESTAGER

The companies involved in this scandal have admitted their involvement in the plot and have agreed to accept and pay the fine. According to Margrethe Vestager, european commissioner for Competition, millions of europeans now use devices that incorporate these batteries and that therefore the poster was at fault in the ranges of prices that users paid for that time.

Four companies participated in the cartel, but only three have been fined

however not all the companies have to pay the same amount, since the worst stop has been the japanese firm Sanyo that you will have to pay 97.149.000 euros after a reduction of 30%, followed by Panasonic that will pay 38.890.000 euros also after a 30% reduction and finally Sony that within what it should be is the best save of this situation and should 29.802.000 euros after to reduce the amount by 50%.

Sony

As we have already said before Samsung SDI has been the only one who has been freed from the payment which revealed the existence of the plot. By making this decision, and become at the top of the poster the company has managed to evade the payment that amounted to 57.748.000 euros, which is meant to be the second company that most would have paid the participants.

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