LG Electronics has granted Haier-owned GE Appliances a license to use its patented refrigerator door-ice making technology – terms of the deal were not disclosed.
The news comes after Haier acquired GE Appliances in 2016, and follows “months of negotiations” over GE’s use of patented LG fridge technology.
LG asserts it has over 400 patents related to door-ice making technology.
Commentators question whether the financial kick-back of the license deal will reflect in forthcoming LG earnings.
Haier branded refrigerators are currently sold in Australia from the likes of The Good Guys and Harvey Norman.
The patented door-ice making tech claims to facilitate slim and sleek designs which maximise space within the fridge.
LG’s door-ice making tech is said to take up less room than conventional refrigerator ice makers, freeing up space for food storage in fridge compartments.
“…as seen in this major patent licensing agreement, LG is committed to actively protecting our intellectual property,” asserts Song Dae-hyun, President of LG Electronics Home Appliance & Air Solution Company.
“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.”
