Claim: Apple Pays LG for a Long-Term Patent Agreement!
In April we left behind, LG, one of the South Korean-based electronics manufacturers, made a statement that it received a one-time payment for the patent license, but did not specify who its customer was. A report by TheElec claims that according to industry sources, LG Electronics received a total of Won 890 billion ($662.4 million) from the two companies, of which Won 800 billion was paid by Apple and the remainder by an unidentified company. .
South Korea-based electronics manufacturer LG Electronics and United States-based software and technology giant Apple have reportedly entered into a patent licensing agreement for more than a decade, which is common practice for multinational companies. Patents may possibly contain “many standard basic patents”.
A deal may have been established for the screen and cameras in the iPhone 14 series.
As you know, LG has left the smartphone market and its obligations to pay Apple for the cross-licensing agreement have changed, so it may have received a payment from Apple under a previously arranged cross-licensing patent agreement.
In its report, The Elec said: “LG holds multiple standard core patents and will likely seek a deal with Samsung as well. Although LG has exited the smartphone business, its other subsidiaries such as LG Innotek and LG Display will continue to supply camera modules and displays to the iPhone manufacturer, respectively.