Connect with us

Hi, what are you looking for?

New Products

LG Electronics and GE Announce Licensing Agreement

454617.jpg

LG Electronics (LG), a global leader and technology innovator in consumer electronics, today announced that it has entered into a cross licensing agreement with GE Consumer & Industrial, an industry leader in major appliance, lighting and integrated industrial equipment, systems and services. This new agreement will allow LG and GE to use one another’s patents for refrigerators and cooking appliances without paying licensing fees.

“We believe that this licensing arrangement with GE will enhance our ability to deliver winning products and move us further toward our goal of becoming one of the top global brands in consumer electronics and home appliances,” said Young Ha Lee, President and CEO of LG Electronics Digital Appliance Company. “Our long history of working together with GE will help us take advantage of this agreement even more quickly.

“This agreement is part of a win-win strategy for both GE and LG,” said Lynn S. Pendergrass, President and CEO, GE Consumer & Industrial – Americas. “We expect the synergies resulting from the strong relationship between our two companies will contribute substantially to the success of both GE and LG.”

The companies marked this new cross license agreement with a ceremony held today at LG’s R&D Campus in the Gasan area of Seoul, Korea. Executives from both companies attended the ceremony. They included Young Ha Lee, President and CEO of LG Electronics Digital Appliance Company and Lynn S. Pendergrass, President and CEO, GE Consumer & Industrial – Americas.

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.

LG has previously entered into key partnerships with other top companies to build its technology and customer base. In 2000 the company partnered with Matsushita’s air conditioning division and in 2001 LG allied itself with both Microsoft and Intel in the home networking sector.

GE Consumer & Industrial, a $13 billion business, uses innovative technologies and “ecomagination,” a GE initiative to aggressively bring to market new technologies that help customers and consumers meet pressing environmental challenges, to deliver comfort, convenience and electrical protection and control.

Advertisement. Scroll to continue reading.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Latest Products

GoldenEar T44 Hybrid Floorstanding Loudspeaker Lifestyle Black

Floorstanding Speakers

GoldenEar’s T44 hybrid floorstanding loudspeaker offers powerful sound and deep bass without the need for a subwoofer.

Radiant Acoustics Clarity 6.2 and 4.2 Bookshelf Speakers Radiant Acoustics Clarity 6.2 and 4.2 Bookshelf Speakers

Bookshelf Speakers

Full range sound from bookshelf speakers? Check out the new Radiant Acoustics CLARITY 6.2 and 4.2 loudspeakers featuring PURIFI USHINDI woofers and custom AMT...

FiiO SP5 Desktop Speaker FiiO SP5 Desktop Speaker

New Products

FiiO expands its desktop audio lineup with the new SP5 active speakers, featuring upgraded amplification, premium drivers, and wide-format connectivity for under $750.

AVID Relveo Turntable Lifestyle AVID Relveo Turntable Lifestyle

New Products

AVID launches the Relveo, its first all-new turntable in 12 years. Handmade in the UK and priced at £6,900 ($11,000 US), the Relveo targets...

IKEA BLOMPRAKT Bluetooth Speaker Lamp and NATTBAD Wireless Speaker IKEA BLOMPRAKT Bluetooth Speaker Lamp and NATTBAD Wireless Speaker

New Products

IKEA says "hejdå" to Sonos and builds its own smart speaker lineup with BLOMPRAKT and NATTBAD — affordable, Matter-friendly, and simple enough to set...

Soundcore Boom 3i portable Bluetooth Speaker floating in water Soundcore Boom 3i portable Bluetooth Speaker floating in water

New Products

Rugged, floating Bluetooth speaker built to survive saltwater, drops, and your worst outdoor mishaps. Expect serious bass, 16-hour playtime, and an emergency alarm that...

Gift Ideas?

Amazon Prime Day is July 8-11, 2025

Daily Deals

Amazon Prime Day is a four-day shopping event from July 8-11, 2025 offering the biggest discounts of the year on consumer electronics.

You May Also Like

Advertisement

ecoustics is a hi-fi and music magazine offering product reviews, podcasts, news and advice for aspiring audiophiles, home theater enthusiasts and headphone hipsters. Read more

Copyright © 1999-2024 ecoustics | Disclaimer: We may earn a commission when you buy through links on our site.



SVS Bluesound PSB Speakers NAD Cambridge Audio Q Acoustics Denon Marantz Focal Naim Audio RSL Speakers