 |
| Apple pushes long-term patent licensing agreement with LG |
In April, LG said it had received a one-time patent license payment but did not identify the customer. In a report by TheElec, we learned that LG Electronics received 890 billion won ($662.4 million) from the two companies, with Apple paying 800 billion won ($595.4 million), according to industry sources. The difference was paid by an unspecified company.
LG and Apple have reportedly signed a long-term patent licensing agreement spanning more than a decade, a common practice among multinational companies. These patents may include "several core standard patents".
Since LG exited the smartphone business, its commitment to paying Apple for a multi-licensing agreement has changed, leaving Apple obligated to offset the remainder of a cross-licensing patent agreement previously entered into.
"LG owns several standard core patents and may seek a settlement with Samsung," The Elec wrote. "Although LG may have exited the smartphone business, other subsidiaries such as LG Innotek and LG Display will continue to offer camera modules and displays."