LG Display and Samsung Display might have been rivals previously, but now, they're looking at becoming partners.
The companies on Tuesday announced they have dropped all patent-infringement litigation against each other and will now start to explore the ways at which they can work together to improve their mutual standing in the display business.
The two companies have been locked in legal turmoil over the last few years. In September 2012, LG Display sued Samsung Display, claiming the latter violated seven of its organic light-emitting diode (OLED) patents. Samsung quickly responded with its own round of lawsuits over the technology, which led to an injunction filed by LG seeking to ban Samsung's Galaxy Note 10.1 in Korea.
In a statement Tuesday, however, LG and Samsung said that the smart move going forward would be to partner on display technology and strengthen the Korean companies' standing in the display business as foreign competitors continue to apply pressure. No formal partnership between the companies has been signed yet.
(Via Wall Street Journal)
Update, 11:10 a.m. PT: Adds background on patent disputes between LG Display and Samsung Display.