LG Display Co. (034220), the world’s second- largest maker of liquid-crystal displays, said it filed a lawsuit against Samsung Electronics Co. (005930) and Samsung Display Co., claiming they infringed its patents related to organic light- emitting diode technology.
Samsung products, including the Galaxy S3 smartphone and Galaxy Tab 7.7 tablet device, infringe LG’s patents, the Seoul- based company said in an e-mailed statement today. LG, in a suit filed with Seoul Central District Court, asked Samsung to stop violating its patents and sought monetary damages, according to the statement that didn’t provide further details.
The suit comes after LG employees were charged over theft of technology from Samsung Mobile Display Co. in July. Samsung Mobile, which has been merged with Samsung Display, at the time requested LG formally apologize and take steps to prevent a recurrence. Samsung Display said in an e-mailed statement today it plans to consider a legal response to LG’s lawsuit if needed.
“This lawsuit has been filed both to enforce LG Display’s intellectual property rights and promote fair competition,” LG said in today’s statement.
LG Display fell 0.4 percent to close at 27,800 won, the lowest since Sept. 13, while Samsung Electronics added 1 percent to 1,338,000 won. The benchmark Kospi index rose 0.4 percent. Samsung Display isn’t publicly traded.
OLED televisions are as thin as 4 millimeters (0.2 inch) and produce sharper images than liquid-crystal-display models. Shipments of OLED TVs may surge 62-fold to 2.1 million sets in 2015 from 34,000 in 2012, according to an estimate by Englewood, Colorado-based IHS Inc. (IHS:US)’s iSuppli.
-- With assistance from Seyoon Kim in Seoul. Editors: Suresh Seshadri, Subramaniam Sharma
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