According to the latest report, LG Electronics has been researching how to use related patents since it exited the smartphone business in 2021. LG Electronics plans to license its patents related to smartphones and mobile technologies.
Moreover, it is reported that LG Electronics has more than 20,000 patents related to mobile communication technologies such as 4G, 5G, and Wi-Fi, and the annual maintenance cost is as high as 20 billion won.
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Furthermore, LG Electronics announced last month that it plans to start a patent licensing business. In addition to self-authorizing patents, LG Electronics also plans to transfer some patents to subsidiaries in the event of a patent lawsuit in the future, according to sources.
Separately, LG Electronics is also considering selling its patents to other non-practicing entities (NPEs), but this would involve compensating employees for invention patents.
In fact, since LG Electronics announced the launch of its mobile phone business last year, it has been reported that Chinese mobile phone manufacturers and global patent management companies (NPEs) such as the United States and Japan are seeking to purchase LG Electronics’ patents related to mobile and communication technologies.
