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February 27, 2008

LG Electronics and General Electric Announce Licensing Agreement

Patent cross-license agreement covers refrigerators and cooking appliances


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Photo: Lynn Pendergrass, President and CEO of GE Consumer & Industrial-Americas (left) and Young Ha Lee, President and CEO of the LG Electronics Digital Appliance Company, celebrate the signing of a cross-licensing agreement between GE and LG for refrigeration and cooking appliances.


SEOUL, Korea, Feb. 26 -- LG Electronics (LG), a global leader and technology innovator in consumer electronics, today announced that it has entered into a cross licensing agreement with GE Consumer & Industrial, an industry leader in major appliance, lighting and integrated industrial equipment, systems and services. This new agreement will allow LG and GE to use one another's patents for refrigerators and cooking appliances without paying licensing fees.

LG and GE have collaborated on cooking appliances since 1999, both in technologies and product development. This new agreement will help the companies strengthen their competitiveness worldwide. This agreement will be especially helpful to LG, in its push to expand its presence in digital appliances globally. The company currently sells its products through all three of the top retailers in North America: The Home Depot, Sears and Best Buy.

While, LG Electronics, Inc. is a global leader and technology innovator in consumer electronics, home appliances and mobile communications, GE Consumer & Industrial spans the globe as an industry leader in major appliance, lighting and integrated industrial equipment, systems and services. |GlobalGiants.com|


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Edited & Posted by Surender Hastir | 5:07 AM | Link to this Post


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