Samsung to pay $150 mil. to Nanoco in QLED patent suit settlement

In this Jan. 8, 2019 file photo, people look at QLED 8K TVs in the Samsung booth at CES International in Las Vegas. AP-Yonhap

Samsung Electronics has agreed to pay $150 million to Nanoco Technologies in settlement for a patent lawsuit over a technology used in Samsung's quantum-dot LED TV, a litigation finance firm for the British company has said.

GLS Capital announced Friday the two parties reached the settlement shortly before the start of the trial on Jan. 6 to end the litigation, according to a joint press release by GLS Capital and Nanoco.

The settlement includes a license agreement and the transfer of "certain patents" and settles all related proceedings in the U.S., Germany and China, the release said, without providing further details.

Samsung and Nanoco announced last month the settlement was reached, but no details on the terms of the settlement deal were disclosed.

Nanoco sued Samsung in 2020, accusing the Korean tech giant of copying its technologies related to the synthesis and use of quantum dots.

Nanoco is known for its development and manufacturing of the quantum dot displays without the use of cadmium, a toxic metal. (Yonhap)