Until a few years ago, LG took an active part in the smartphone market by producing its own phones. Currently, however, the company focuses only on providing components and patents necessary to create phones, while the idea of creating your own smartphones has been put on hold, at least for now. One of the companies that eagerly uses LG patents in their devices is Apple.
In April, LG confirmed that the company received a one-off payment in exchange for a license to use the patents, but at that time no information was released about the amount the company received and which companies decided to buy the rights to use the patents. Today we know that LG then received about 662.4 million of dollars, and a significant part of this amount was paid by Apple. According to the latest information, we can say that Apple had to pay 595.4 million of dollars for the use of some patents. Under the agreement, LG and Apple confirmed their cooperation, which is to last 10 years. Despite this, there is still the possibility that LG will also officially agree with Apple's largest competition on the smartphone market, which is Samsung.