LG withdraws from phone market

South Korean technology giant LG Electronics announced that it has completely withdrawn from the smartphone market and sold its patent to Chinese Vivo.

LG WILL NO LONGER PRODUCE SMARTPHONES

LG Electronics, which was once one of the leading names in the smartphone market, made a historic decision to withdraw from the mobile market in 2021. The South Korean technology giant, which has been operating in the sector since then, announced that it was completely withdrawing from the market. Unable to hold on to the market, LG sold all of its patent rights to the Chinese technology company Vivo.

SOLD HIS PATENTS

LG sold Vivo 46 US standard patents, most of which are standard patents for codecs required for video signal compression. Codecs are technologies that compress and decompress digital video and audio. In particular, the 46 patents covered a number of core technology areas that are critical to improving the efficiency and quality of video processing, such as intra-frame prediction, inter-frame prediction, transform coding, motion vector prediction, chroma format, affine motion prediction, bitstream signal processing, and high-frequency reset.

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