Andre Yoskowitz
4 Nov 2012 23:27
LG Electronics has said today that they have reached an agreement with Siemens over an LED patent lawsuit.
More specifically, LG's component unit Innotek settled with Siemen's light bulb unit Osram.
Besides the LED suits, the two companies also agreed to "cross-license each other's LED patents and drop all litigation related to lighting product technology that they filed last year against each other in South Korea, the United States, Japan, China and Germany," says Reuters.
Other financial terms were not disclosed.
Osram made a similar deal two months ago with Samsung.