LG ended its activities in the smartphone industry a few years ago. However, the company is looking for ways to monetize its patents in the mobile space. In this context, LG has signed a new agreement with Oppo, transferring its mobile patents to the Chinese manufacturer.
LG sells phone patents to Oppo
LG was once at the forefront with innovative features such as modular design and rotating screens. However, it could not withstand the competition from brands like Apple, Samsung and Xiaomi. Despite its innovations in this field, it could not survive. In 2021, it announced that it closed its loss-making mobile division.
However, LG does not want to leave behind the money it makes from its investments in mobile research and development. The company’s patent portfolio continues to generate profits even if it no longer produces phones.
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LG first signed a major patent deal with Apple in 2022. Now LG has reportedly sold 48 key patents related to video and audio solutions to Oppo. While the amount of the deal is unclear, it includes LG’s solutions in the US market.
While Oppo has its own patent portfolio, it has faced litigation issues that have affected its global expansion for some time. The new agreement with LG provides Oppo with a significant number of patents. The company will be able to gain full access to various standards-based technologies.
LG, on the other hand, is more focused on display solutions. Samsung and LG have closed some of their display production factories, leaving the Chinese companies to dominate the affordable LCD displays.
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