According to government and industry sources, Samsung and LG Electronics have agreed to sign a partial patent cross license with each other and drop the recently filed patent-related lawsuits in an attempt to make their relationship more constructive.
With the two companies in a conciliatory mood, a more comprehensive cross license is expected to come along sooner or later. Then, it will become the first patent cross license between two Korean companies in 21 years. Back in 1992, Samsung Display Devices and Lucky Gumsung, the predecessor of LG, shared approximately 4,000 of their patents with each other.
It is said that Samsung Electronics will receive OLED material-related patents from LG Electronics while offering its mobile phone patents to LG. Also, the two giants agreed to focus on mutual cooperation in the patent industry rather than patent disputes against each other.