Apple has reportedly paid LG for a long-term patent licensing deal

In April, LG reported receiving a one-time payment for the patent license, but did not disclose who the customers were. In a report of The Elec We learn that LG Electronics has received KRW 890 billion ($ 662.4 million) from two companies, of which KRW 800 billion ($ 595.4 million) was paid by Apple, according to industry sources. The difference was paid by an unidentified company.

LG Electronics and Apple reportedly entered into a long-term patent licensing agreement lasting more than ten years, a common practice for multinational conglomerates. The patents may have included “many standard essential patents”.

Since LG exited the smartphone business, its obligations to pay Apple for a cross-licensing agreement have changed, hence the payment made by Apple to offset the remainder of a previously agreed cross-patent agreement.

“LG holds several standard essential patents and will likely seek a deal with Samsung as well,” he writes The Elet. “While LG may have abandoned the smartphone business, its other affiliates such as LG Innotek and LG Display will continue to supply camera and display modules to the iPhone maker, respectively.