OSRAM GmbH, LG Electronics Inc. and LG Innotek Co. Ltd. have agreed to settle all LED patent litigation between LG and Osram worldwide.

Under the agreement the parties will dismiss all patent disputes pending in various countries including the United States, Germany, South Korea, Japan and China.

As part of the settlement, the parties also have reached a license agreement for their respective LED patent portfolios. The parties agreed to keep the details of the settlement confidential.

"We are very much satisfied with the settlement reached. It is our long-standing policy to reach license agreements with other manufacturers of LED products. Consequently, we highly appreciate this settlement with LG Electronics and LG Innotek," said Aldo Kamper, CEO of Osram Opto Semiconductors.

"With the patent litigations now terminated, we are looking forward to building a strong relationship with Osram in the field of intellectual property," said Si-gwan Ryu, Executive Vice President of LED Business Unit of LG Innotek Co. Ltd.

Last August, Osram also reached an agreement to settle LED patent suits between the German company and Samsung Electronics.