Samsung, LG end patent dispute
25 September 2013, 12:25
Seoul - South Korean electronic giants Samsung and LG have
agreed to end a year-long battle over display technology patents that spawned a
series of lawsuits.
LG Display and Samsung Display - respectively the world's
top and number two display panel manufacturers - had locked horns over a number
of patents for next-generation display technologies for TVs and other devices.
"It was agreed that we two should focus more on
cementing our leadership in the global market by cooperation, instead of
engaging in all-consuming patent disputes," Samsung Display said in a
statement late on Monday.
"What's most important for both of us is upgrading
our competitiveness globally," LG said.
The two firms had accused each other of stealing
liquid-crystal display (LCD) and organic light-emitting diode (OLED) technology
and key engineers.
The OLED technology helps produce screens that are
thinner, consume less power and offer a sharper picture than conventional
flat-panel panels and is seen as a future growth driver in the TV market.
The two rivals' mother companies - Samsung Electronics
and LG Electronics - are the world's top and second-largest TV makers
LG claimed last year that key Samsung products, including
its global hit Galaxy S smartphones, violated LG's OLED technology and sought
financial damages and injunction against five Samsung devices.
The high-profile dispute led Seoul's trade minister to
arrange a meeting between the two firms' CEOs in February.