Qualcomm and LG Electronics Resolve Arbitration Dispute Over Licensing Terms
SAN DIEGO and SEOUL, South Korea, April 20, 2016 /PRNewswire/ -- Qualcomm Incorporated (QCOM) and LG Electronics, Inc. (LGE) today announced that the companies have resolved through good faith negotiations an arbitration dispute over certain terms in their license agreement under Qualcomm's leading portfolio of patents covering 3G WCDMA and CDMA2000 and 4G LTE wireless technologies as well as numerous other technologies implemented in wireless devices. Under this resolution, LGE will continue to benefit from access to Qualcomm's broad portfolio of patented technologies that enable LGE to deliver innovative devices to its customers globally.
"We are pleased to have resolved our dispute with Qualcomm through good faith negotiation and mutual respect," said Skott Ahn, Ph.D. President and CTO of LG Electronics, Inc. "LGE and Qualcomm have worked closely together for many years and we greatly value our partnership with Qualcomm, which has played a central role in the mobile revolution and brought unprecedented value to the industry, as well as to consumers. As the owner of a significant portfolio of patented technologies, LGE, like Qualcomm, recognizes the importance of patent rights and standardized technologies, which we believe have fostered a highly competitive industry and steady increase in the value delivered to consumers, in Korea and globally."
"Qualcomm invests billions of dollars every year in R&D that has driven fundamental breakthroughs in wireless systems technology across multiple generations – including 2G, 3G, 4G and now 5G –and we are pleased that the licensing of these advanced technologies have helped to drive enormous value across the entire mobile ecosystem," said Derek Aberle, president of Qualcomm Incorporated. "We have been a longstanding and close partner of LGE, as well as with the entire Korean wireless ecosystem, and we are pleased that this resolution will position both companies to continue to deliver value to our customers and consumers globally."
