LG Electronics has provided compensation to current and former employees who participated in the development of the patent. According to Korean media The Elec, there have been more than 50 patent lawsuits between LG Electronics and employees, which is one of the reasons for LG Electronics to take the above measures.
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Moreover, LG Electronics, which has been researching how to use related patents since exiting the smartphone business in 2021, plans to license its patents related to smartphones and mobile technologies in March this year.
In April, LG Electronics said it earned about 800 billion won from patents in the first quarter. The company contacted employees involved in the patents and offered compensation ranging from a few million won to several million dollars.
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.
