InterDigital signs patent license with LG Electronics

Rhea-AI Summary

InterDigital, Inc. (NASDAQ:IDCC) announced a new patent licensing agreement with LG Electronics, covering HEVC and VVC technology for various LG products, including TVs and PCs. Eeva Hakoranta, Chief Licensing Officer, expressed satisfaction with the partnership, highlighting its potential for mutual benefits. The agreement positions InterDigital as a key player in the mobile and video technology sectors, enabling enhanced multimedia experiences for consumers worldwide.

Positive

• New patent license agreement with LG Electronics enhances InterDigital's revenue potential.
• Agreement covers a broad range of LG products, including TVs and PCs, indicating robust market demand.
• Strengthens InterDigital's position in the mobile and video technology sectors.

Negative

• None.

WILMINGTON, Del., Jan. 03, 2023 (GLOBE NEWSWIRE) -- InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology research and development company, today announced that the company has signed an HEVC and VVC patent license with LG Electronics, a leading Korean-based manufacturer of various consumer electronics products. The license covers a range of LG products such as TVs and PCs.

“I am very pleased that LG Electronics, one of the leading manufacturers of consumer electronics products, has taken a license to InterDigital´s video coding portfolio and I look forward to a continued, mutually beneficial business relationship with the company,” said Eeva Hakoranta, Chief Licensing Officer, InterDigital.

About InterDigital^®

InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology companies. Founded in 1972, InterDigital is listed on NASDAQ. InterDigital is a registered trademark of InterDigital, Inc.

For more information, visit: www.interdigital.com.

InterDigital Contact:
Richard Lloyd
Email: richard.lloyd@interdigital.com
+1 (202) 349-1716

FAQ

What does the new licensing agreement between InterDigital and LG Electronics cover?

The licensing agreement covers HEVC and VVC patent technologies for LG products such as TVs and PCs.

When was the licensing agreement between InterDigital and LG Electronics announced?

The agreement was announced on January 3, 2023.

What is the significance of the partnership between InterDigital and LG Electronics?

The partnership allows InterDigital to expand its revenue through licensing and reinforces its influence in mobile and video technology.

How does this licensing agreement impact InterDigital's market position?

The agreement strengthens InterDigital's market position by increasing its presence in the consumer electronics space through collaboration with a leading manufacturer.