Apple apparently paid LG half a billion dollars for a long-term patent agreement

About four months ago LG He announced that he received an amount for his patents, however, he refused to say who the customer of this patent was, what amount was exchanged between them, and what the said patent itself was. But now it is clear that one of the companies that paid LG was Apple.

According to the report TheElecApparently, this Korean technology company is a missionary 890 billion won (662.2 million dollars) from two companies. According to informed sources 800 billion won (595.4 million dollars) of the said amount by Apple is paid. Of course, it is still not clear who or company paid the rest of this amount.

The report further indicates that LG Electronics And Apple Enter into a long-term agreement Ten-year-old have been patented; This is common among large multinational companies. The patents contained in this agreement can also “Many important inventions and standardsinclude “.

Apple and LG agree on patent rights

It should be noted that since LG is out of the smartphone business, its payment obligations to Apple in the context of the agreement Reciprocal license changed, so the amount paid by Apple is apparently to compensate for the remainder of a previous patent cross-licensing agreement.

Also, TheElec report further states that LG owns several important patents and standards, and it is likely that this Korean company will reach an agreement with another Korean technology giant, i.e. Samsung be also

In the end, it should be said that although LG has left the smartphone industry, some of its affiliated companies such as “LG Innotek” And “LG DisplayThey are still active in the field of supplying camera and display modules for customers like Apple, and it is natural that the name of this company will continue to be mentioned in the mobile market.