Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Sony Cooperating With U.S. Antitrust Probe of Battery Business

Don't Miss Out —
Follow us on:

June 28 (Bloomberg) -- Sony Corp. said it is cooperating with a probe by the U.S. Justice Department’s antitrust division as part of a wider investigation into competition in the rechargeable battery business.

The Tokyo-based company’s U.S. subsidiary, Sony Electronics, received the request for information on May 3, Keita Sanekata said in an e-mailed statement. Sanekata declined to comment further on the scope of the investigation disclosed in an annual report filed today.

Lithium batteries account for the largest portion of the global market for rechargeable batteries. They are used in smartphones, personal computers, tablets and plug-in electric vehicles. The largest battery makers cut prices in 2010 amid a supply glut, according to the Institute of Information Technology, a Tokyo-based market research firm.

Manufacturers have announced plans to expand capacity to meet demand for batteries in electric, hybrid and plug-in hybrid cars. Sales will increase to 1.7 trillion yen ($21 billion) in 2020 from almost zero in 2009, Daiwa Securities Group Inc. estimated in March 2010.

President Barack Obama’s administration has provided more than $2.4 billion in grants and low-cost loans to battery makers and auto companies to support projects intended to spur the development and sale of rechargeable electric cars and plug-in hybrids, as part of a 2009 stimulus package.

To contact the reporter on this story: Cliff Edwards in San Francisco at cedwards28@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.