Sony and LG reach agreement in patent dispute

Sony and LG have settled their patent disputes and agreed to cross-license their technologies. Under this agreement, the companies will pay each other royalties and also drop lawsuits against each other.

The companies filed a total of 24 lawsuits against each other. Sony accused LG of illegally using its designs in its smartphones, while LG claimed that Sony was using its patents in Sony Bravia TVs and the PlayStation 3 game console.

In March of this year, the Hague Court banned the sale of Sony PlayStation 3 consoles in Europe. However, the ban was overturned a few weeks later, and LG was sentenced to pay a fine of €130,000.