LG announced last month that it would withdraw from the smartphone market. Several companies, including Samsung, took action to purchase and use the Korean giant’s 5G patent portfolio.
LG Electronics announced in early April that it will close its smartphone division. The South Korean company will download the shutters of the mobile device division as of July 31 . Hearing this decision of its arch-rival, Samsung set its eyes on LG’s patent portfolio.
Several companies, including Samsung, are reportedly already fighting for LG’s 5G patent portfolio . According to reports in the Korean press, Samsung plans to acquire a license to use them in its devices rather than purchasing patents .
Billion dollar patent on LTE and 5G
LG currently has approximately 24,000 patents related to LTE and 5G technologies . Sources said the patent of 1 trillion won (900 million dollars) to 1.5 trillion won (1.3 billion dollars) worth mean that.
By the way , let’s note that Samsung is the only electronics manufacturer among companies interested in LG’s patent portfolio . The rest, such patents licensed to third parties by winning money are listed as institutions.