After battling over display patents, both companies have decided to end their disputes.
In a somewhat unexpected move, Korean electronics manufacturers LG and Samsung have settled their legal squabbling. The two companies had been fighting over claims of patent infringement and technology theft in relation to their LCD and OLED displays. This decision comes after several lawsuits and a year of legal maneuverings.
“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 said in a statement.
LG, in its own statement, continued, “What's most important for both of us is upgrading our competitiveness globally.''
While their legal battles are thankfully now over, the two technology giants will of course continue to compete in the display market. Most recently, both companies have released their own 55-inch curved screen OLED TVs, promising superior contrast, black levels, and colors. Samsung's KN55S9C currently retails for $9,000, and LG's 55EA9800 currently retails for $10,000 as a Best Buy Magnolia Store exclusive.
Source: The Standard via Engadget