LG Display and Samsung Display, which are the world’s top and number two display panel manufacturers respectively, agreed to end their year-long battle over next-generation display technologies for TVs and other devices.
Previosly, the two firms had accused each other of stealing LCD and OLED technology and key engineers. LG said that some Samsung products, includingsmartphones, violated its OLED technology and sought financial damages and injunction against five Samsung devices.
This dispute eventually led Seoul’s trade minister to arrange a meeting between the two firms’ CEOs in February, and at the end a peacful solution has been found.
“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, while LG said that it’s “most important for both of us is upgrading our competitiveness globally.”
[Via: Economic Times of India]
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