LG (066570) and Samsung (005930) are nearing patent peace. Shortly after reports surfaced that claimed the two companies would settle their patent infringement lawsuits behind closed doors, Samsung dropped its injunction request that sought to block LG Display (LPL) from using its OLED technology. LG on Wednesday followed suit and abandoned its preliminary injunction request against Samsung’s Galaxy Note 10.1 tablet. The company said in a statement that it will seek “an alternative solution through an amicable negotiation with Samsung to clarify the respective rights and duties of each party and analyze the proper value of the patents.” LG Display’s full statement follows below.
LG Display [NYSE: LPL, KRX: 034220], a leading innovator of display technology, announced today that it has withdrawn its request for a preliminary injunction in connection to Galaxy Note 10.1 against Samsung Electronics and Samsung Display from the Seoul Central District Court of Korea.
LG Display seeks to stop the consuming dispute with Samsung and to continue its promotion of fair competition. Based on the firm belief that a patent should be fairly assessed as a product of innovation, LG Display seeks an alternative solution through an amicable negotiation with Samsung to clarify the respective rights and duties of each party and analyze the proper value of the patents.