Magazines Archives - 2008 March
LG, GE in agreement to share patents for home appliances
SOUTH KOREAN conglomerate LG Electronics has entered into a crosslicensing agreement with GE Consumer & Industrial which will allow both companies to use each others patents for
refrigerators and cooking appliances without paying licensing fees.
We believe that this ... arrangement with GE will enhance our ability to deliver winning products and move us further towards ... becoming one of the top global brands in consumer electronics and home appliances, said LG Electronics Digital Appliance Company president and CEO Young Ha Lee.
Our long history of working with GE will help us take advantage of this agreement even more quickly, said Lynn S Pendergrass, president and CEO, GE Consumer & Industrial, Americas,
calling it part of a win-win strategy for both parties. We expect the synergies resulting from the strong relationship between our two companies will contribute substantially to the success of
both GE and LG.
The collaboration between the two on technologies and product development for cooking appliances dates back to 1999.
The latest agreement will help LGs push to expand its presence in digital appliances globally. The company currently sells its products in North America through retailers The Home Depot,
Sears and Best Buy.
In 2000, LG partnered Matsushitas air-conditioning division to build its technology and customer base, followed in 2001 by an alliance with Microsoft and Intel on home-networking.