Ericsson and LG Electronics today renewed a global patent licensing agreement, according to the evening news of July 30, Beijing time.
Ericsson and LG are important contributors to global 2G, 3G and 4G network standards, and both companies have invested heavily in 5G network standards. The renewal of the agreement covers the cross licensing of "standard necessary patents" between two companies in 2G, 3G and 4G networks, and the specific terms of the agreement are still in a state of confidentiality.
For Ericsson, patent licensing can make up for the company's R & D investment so as to ensure continued innovation in the future.
Gustav Brismark, Ericsson's chief intellectual property officer, said: "It's a great pleasure to sign a new agreement with LG. This will allow us to concentrate on developing new technologies for the global market and add to our already leading patent pool. At the same time, this agreement also proves the value of our patents and our patent licensing capabilities. " (Li Ming)
Waonews is a news media from China, with hundreds of translations, rolling updates China News, hoping to get the likes of foreign netizens