SEOUL, South Korea, June 27, 2019 /PRNewswire/ -- LG Electronics (LG) is licensing its patented refrigerator door-ice making technology for use in refrigerators sold by GE Appliances, which Haier acquired in 2016. Terms were not disclosed.
The license agreement follows months of negotiations over GE Appliances' use of LG's patented technologies. The agreement underscores the value of LG's patent portfolio and the company's leadership in home appliances with more than 400 patents related to door-ice making technology.
LG's patented door-ice making technology allows for slim and sleek profile designs that maximize usable space inside the refrigerator. This door-ice making technology takes up less room than a conventional refrigerator ice maker and frees up more space for food storage in the refrigeration compartment.
"Our desire to deliver more convenience and functionality to customers drives us to develop innovative new core technologies such as our door-ice making inventions," said Dan Song, president of LG Electronics Home Appliance & Air Solution Company. "At the same time, as seen in this major patent licensing agreement, LG is committed to actively protecting our intellectual property."
About LG Electronics Home Appliance & Air Solution Company
The LG Home Appliance & Air Solution Company is a global leader in home appliances, smart home solutions, air quality systems as well as visionary products featuring artificial intelligence. The company is creating total solutions for the home with its industry leading core technologies and is committed to making life better for consumers around the world by developing thoughtfully designed kitchen appliances, living appliances and air solution products. Together, these products deliver enhanced convenience, superb performance, efficient operation and compelling health benefits. For more information, visit www.LG.com.
SOURCE LG Electronics USA