LG and Samsung Agree to Legal Truce

Rival Korean consumer electronics manufacturers LG and Samsung have finally agreed to bury the legal hatchet, reported BBC and PC Magazine.

The two companies have agreed to withdraw complaints filed against the other company, and “seek leniency in continuing cases”, reported BBC.

Disputes between the two companies include charges brought against LG appliances chief Jo Seong-jin for deliberately damaging Samsung washing machines in a German retail store.

Samsung employees have also been accused by LG of stealing business secrets related to smartphone OLED display technology.

The two companies cited competition from Chinese companies, and refocus of business strategies to improving product quality, as the main reason behind the “temporary peace pact”, reported PC Magazine.

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