News Brief

LG, GE Ink Licensing Deal

LG Electronics has entered into a cross-licensing agreement with GE Consumer & Industrial to use one another's patents for refrigerators and cooking appliances without paying licensing fees.

LG and GE have collaborated on cooking appliances since 1999, both in technologies and product development. This new agreement will help the companies strengthen their competitiveness worldwide.

This agreement will be especially helpful to LG, in its push to expand its presence in digital appliances globally. The company currently sells its products through all three of the top retailers in North America: The Home Depot, Sears and Best Buy.

--Nina M. Lentini

Tags: electronics
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