By Kim Yoo-chul
Samsung Display has dropped a lawsuit against LG Display that sought a ban on the latter for infringements concerning organic light-emitting diode (OLED) technology, Samsung said Tuesday.
The long-standing legal battle between the two started in 2011, when Samsung alleged that 11 of its researchers had leaked details of its OLED technology to LG.
“We sent a letter to the Seoul Central District Court late Tuesday to cancel the lawsuit against LG Display,’’ said Samsung spokesman Kim Ho-jeong.
The cancellation came after chief executives from the companies agreed to resolve their dispute through talks, at a meeting arranged by the Ministry of Knowledge Economy.
LG Display welcomed the decision.
``LG Display welcomes Samsung Display’s decision to withdraw its injunction request. An official statement will be forthcoming shortly as LG reopens following the Korean Lunar New Year holiday,'' LG said in a statement to The Korea Times.
The OLED technology is currently being used in premium smartphones, tablets and televisions.
LG Display, an affiliate of LG Group, had sought a complete sales ban on Samsung’s Galaxy handsets and 1 billion won in compensation for alleged infringements of LG patents.
As the firms are increasingly being challenged by Chinese consumer electronics makers, especially in the race for the fast-growing OLED market, the knowledge economy ministry finally stepped in to try and end the dispute.
“Such a strategic decision by Samsung is truly encouraging. The fight between Samsung and LG is meaningless,’’ a ministry spokesman said.