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LG Electronics sold 48 U.S. standard patents to OPPO, covering codec standards required to compress video signals.
This deal is in the interest of both parties: LG owns a number of standard patents, and OPPO needs patent support to expand the market. LG Electronics exited the mobile phone business in 2021 after losing money in 2015, but it still holds 24,000 patents, including 4G, LTE, 5G, Wi-Fi and other technologies.
This decision allows LG Electronics to focus its resources on the development of electric vehicle parts, connected devices, smart homes, robots, artificial intelligence, B2B solutions and platform services.
(Source: nghenhinvietnam Image source: unsplash)
