Korean company grants use of patents for premium refrigerators
LG Electronics is licensing its patented refrigerator door-ice making technology to GE Appliances, which was acquired by Haier in 2016. But it did not disclose specific terms.
The Seoul-based home appliance manufacturer said June 27 that GE Appliances will take advantage of the patented technologies to make its own refrigerators.
The two sides have carried out months of negotiations to reach the agreement, which LG said underscores the value of its patent portfolio and leadership in home appliances.
The company holds more than 400 patents related to door-ice making technology alone.
“LG’s patented door-ice making technology allows for slim and sleek profile designs that maximize usable space inside the refrigerator,” an LG official said.
“This door-ice making technology takes up less room than a conventional refrigerator ice maker and frees up more space for food storage in the refrigeration compartment.”
LG President Song Dae-hyun said that the company will continue to develop cutting-edge technologies while protecting its intellectual property.
“Our desire to deliver more convenience and functionality to customers drives us to develop innovative new core technologies such as our door-ice making inventions,” Song said.
“At the same time, as seen in this major patent licensing agreement, LG is committed to actively protecting our intellectual property.”
Traditionally, LG has been a powerhouse in the home appliance business. The company has competed with cross-city rival Samsung Electronics.
The latter enriched its competitiveness in such areas as handsets. But the former still retains a competitive edge in home appliances.