Apple Bought LG’s Patents

 Two companies such as Apple and another unrevealed company have bought Patents from LG. The company had reported previously that they had received a payment for Patent Licensing but they never told the name of the company to whom they sold the license and it has been revealed that they have received KRW 890 billion from Apple and other companies.

The License is valid for up to 10 years and this is a common practice for businesses to buy for 10 years instead of renewing it each year.

Apple provides every tech product that we need which includes Mobile phones, Tablets, AIOs, computers, Laptops, and more. Apple makes colossal money through iPhone but they are far behind the trend which is popular these days like foldable smartphones. Apple’s competitor like OPPO, Samsung, Huawei, and LG has foldable smartphones but Apple doesn’t.

When foldable Smartphones were released, they were expected to be an eye-catchy novelty that seems idealistic. Now it’s been 4th year and after a huge Samsung is releasing the Galaxy Z Fold and Motorola is also releasing their new foldable smartphones this year.

This Patent License will allow Apple to use the tech which was founded by the other company. It’s been reported that Apple also registered many patents for I-Pad.

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