On February 5, Sharp and Samsung signed a settlement agreement to end ongoing patent infringement disputes over LCD panels and modules, the companies announced today.

Since 2007, both company had brought lawsuits against the other in the U.S., Japan, Korea, and Europe, alleging that each company infringes on the other's patents for LCD panels and modules. Each had won orders from the U.S. International Trade Commission banning imports of the other?s televisions into the U.S. market and both companies have been challenging those decisions. The Friday deal cancels ITC's, including a U.S. imports ban made in November on Samsung's LCD products that were deemed to have violated Sharp's patent.

Based on this settlement, all lawsuits will be promptly withdrawn, bringing an end to all patent infringement litigation between the two companies.

This settlement will allow the two companies to mutually utilize the disputed patents relating to LCD panels and modules, owned worldwide by each company.