Korea?s LG Electronics and Japan?s Matsushita Electric Industrial say their five-month long patent dispute over plasma display panel technology is over.
An LG official said Sunday the two companies agreed to settle the dispute and are in talks to finalize conditions that would require them to share each others' patents. The settlement is expected early this week.
Last November, the Japanese company filed suit with a local court against LG Electronics, claiming the Korean company infringed on its plasma technology patents and requesting that the import of LG panels be suspended. In response, LG filed a lawsuit against Matsushita, calling for a halt of the sale of Matsushita panels in Korea and compensation. But in a meeting the CEOs of the world?s No. 1 and 3 suppliers of plasma panels agreed to settle out of court.