Vizio, the U.S.-based sales arm for Taiwan Amtran Technology has signed a patent cross-licensing agreement with LG to reconcile over a years-long patent infringement dispute.

Under the agreement, the two companies will settle all lawsuits they have filed in the U.S. and help to invalidate orders already made by International Trade Commission.

According to market observers, it’s over 50% of Visio’s flat TVs sold in the U.S. are built with LGE`s display panels now that caused they signed this agreement.

What’s more, Amtran has also secured a contract order from LG for 2 million LCD TVs to LG, which will be delivered this year. To achieve annual shipments of 7 million LCD TVs and 5 million LCD monitors, as well as combined revenue of NT$10 billion in 2011, the firm has focused on emerging markets, including India, Russia and China, and planned to promote high-end LED-backlit LCD TVs, 3D TVs and smart TVs to explore new markets.