Ericsson and LG Electronics Sign Global Patent License Agreement
Ericsson (NASDAQ: ERIC) and LG Electronics have renewed a global patent license agreement on FRAND terms and conditions between the two companies. Ericsson and LG Electronics are two of the leading contributors to the GSM (2G), UMTS (3G), and LTE (4G) cellular communication standards and both companies are making significant investments in the development of the NR (5G) standard. The agreement includes a cross license that covers patents relating to both companies’ 2G, 3G, and 4G standard-essential patents. The terms of the agreement are confidential.
Ericsson’s Chief Intellectual Property Officer, Gustav Brismark says: “We are very pleased with this new agreement with LG. It will allow us to focus on developing new technology for the global market and add to our already industry-leading patent portfolio. The agreement confirms the value of our patent portfolio and validates our ability to license it on FRAND terms and conditions.”
Ericsson is one of the leading providers of Information and Communication Technology (ICT) to service providers, with about 40% of the world’s mobile traffic carried through our networks. We enable the full value of connectivity by creating game-changing technology and services that are easy to use, adopt and scale, making our customers successful in a fully connected world. For more than 140 years, our ideas, technology and people have changed the world: real turning points that have transformed lives, industries and society as a whole.