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.