LG to license and pay royalties for 2G, 3G and 4G patents from Nokia Technologies
LG Electronics has agreed on a royalty-bearing smartphone patent licensing with Nokia Technologies where the Korean company will license 2G, 3G and 4G patents.
Image source: GSMArena
LG Electronics is the latest company to join more than 60 licensees for Nokia Technologies' mobile communication patents.
According to Nokia Technologies, LG is the first major smartphone manufacturer to join the licensing program since Nokia sold its Devices and Services business to Microsoft in 2014. LG will license and pay royalties for Nokia's 2G, 3G and 4G patents.
Nokia - "We are pleased to welcome LG Electronics to our licensing program," said Ramzi Haidamus, President of Nokia Technologies. "We've worked constructively with LG Electronics and agreed a mutually beneficial approach, including the use of independent arbitration to resolve any differences. This agreement sets the scene for further collaboration between our companies in future."
The detailed royalty payment obligations will be subject to commercial arbitration and is expected to conclude within one to two-year timeframe. Other terms of the agreement remain confidential between the two companies.
It's an irony that LG is licensing mobile communication patents from Nokia; in September 2011, Forbes reported that LG was the leader in essential LTE patents with over 23% of the patent pool. The Korean company was also the first in the world to showcase voice-to-video conversion over a LTE network at the MWC 2012.
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