All four companies acknowledged their involvement in the cartel and agreed to settle the case. The fines are based on the duration and severity of the offence and value of the market in the EEA. Sanyo received the largest fine at EUR 97.1 million, Sony was fined EUR 29.8 million, and Panasonic will pay EUR 38.9 million. A 10 percent reduction was applied to the original fines after the companies admitted their involvement.
The Commission found that in the period 2004-2007 the companies agreed on a temporary hike in battery prices following an increase in the price of cobalt, a key material for the batteries. They also exchanged commercially sensitive information such as supply and demand forecasts, price forecasts or intentions concerning particular competitive bids organised by their customers, the manufacturers of phones, laptops or power tools.
