LG and Toshiba join forces to share optical disc patents

Following is the press release from LG Electronics and Toshiba about their cross licensing of optical disc-related patents…

”LG Electronics Inc. and Toshiba Corporation today announced that they have signed a patent cross licensing agreement for optical disc related products, providing each company with access to the related patents and technologies of the other. The agreement covers each company’s worldwide patents for optical discs and for the optical disc drives, players and recorders that use them. The agreement is expected to bring benefits to both companies in terms of expediting product development and reducing development costs for optical disc related products, including next-generation DVDs.

The market for optical disc products continues to see robust growth, in line with the proliferation of high-definition content and ever-increasing needs for large capacity storage requirements. In the fast growing market for digital consumer electronics, optical disc related equipment is finding an increasingly prominent role. Toshiba and LG Electronics have responded to this with a patent-sharing agreement covering optical disc products that targets reinforced product development capabilities and accelerated product development for each company."