Tech Ticker

Sony and LG have announced to settle their patent infringement fracas by entering into a new agreement. Both companies have reached a “memorandum of understanding” wherein both companies will withdraw their ongoing complaints and lawsuits against each other. Although the intrinsic details of the agreement are kept confidential, both companies have agreed to share each other’s patents.

LG and Sony were involved in a legal battle since last year and requested a ban on the infringed products.

[Via Bloomberg]