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LG To Stay In Smartphone Game By Licensing Patents

LG Electronics left the smartphone game last year, after years of flagging sales, but the company has found a way to make money from the sector.

LG currently holds around 20,000 patents related to 4G, 5G, Wi-Fi, and various other mobile technologies, which costs the company around A$22.2 million a year to maintain.

Last April, LG announced it would use the patents to develop its own IoT devices and smart appliances, but now has indicated it will also start licensing these patents to third parties.

According to TheElec, LG may create a separate company to handle these licensing deals, with plans to also licence to automotive manufacturers for in-car internet solutions.

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