The European Commission (EC) said on Monday it had fined three Japanese makers of rechargeable lithium-ion batteries 166 million euros ($176.2 million) for their involvement in a price-fixing cartel from 2004 to 2007.

The Commission said that the companies, along with Korea's Samsung SDI, had agreed on temporary price increases and exchanged commercially sensitive information, such as forecasts or plans concerning bids for manufacturers of phones, laptops or power tools.

Sony received a fine of 29.8 million euros, Panasonic of 38.9 million euros and Sanyo 97.1 million euros. Samsung SDI escaped a fine because it revealed the existence of the cartel to the Commission.

The Commission said that all the companies had acknowledged their involvement in the cartel and had agreed to settle the case.