Samsung Electronics and a few other non practicing entities (NPE) have recently been aiming to buy and use LG Electronic‘s fifth generation (5G) mobile patents. This arrives after LG announced that it would be shutting down its smartphone business earlier this month.
According to the KoreaTimes report, a source close to the matter stated that “A lot of NPEs have approached LG Electronics for the possible acquisition of its 5G mobile patents.” Unlike LG’s products, the company’s mobile patents are still considered competitive. This has caused multiple firms to seek its patents including Samsung. An official from the South Korean tech giant said that “We have not reviewed any plans.”
For those unaware, NPEs are firms that holds a patent or patent rights. These companies do not manufacture or produce such patented technology but rather generate profit by licensing it out to other firms. As per the source, LG currently holds patents in LTE and 5G technology that are worth around 901 million US Dollars. In total, the former smartphone maker holds about 24,000 LTE and 5G standard essential patents, which is the third largest nuymber of 5G standard patents, as per data provided by IPlytics.
Furthermore, the company is also ranked 1st in terms of global 4G standard patents for four consecutive years from 2012 to 2016. Thus, after its exit from the mobile market due to the unit being a loss maker, it arrives that no surprise that other firms aim to buyout its patents. An LG Electronics’ official also offered a statement citing that “We cannot confirm the speculation. We are reviewing the use of our network patents in other sectors such as IoT or self-driving.”
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