Image: LG InnoTek LG InnoTek has completed selling its 114 patents in South Korea related to LED technologies to Chinese company Suzhou LEKIN Semiconductor, TheElec has learned. The transaction was completed on July 2, according South Korea patent portal Kipris run by the Korean Intellectual Property Office. LG InnoTek filed to change the owners of the patents in March, data showed. The deal follows that of LG InnoTek’s selling of its 1,968 patents in the US related to LED to the same Chinese company. In total, LG has han...

LG InnoTek has sold its 1,968 patents related to LED technology registered in the US to a Chinese company called Suzhou LEKIN Semiconductor on May 20, according to filings made to the United States Patent and Trademark Office (USPTO). Suzhou, China-based LEKIN Semiconductor was founded in on March 2 and registered as a company on April 3. The firm’s initial capital was shown to be 80 million yuan. LEKIN is to be owned by various entities, each owning shares ranging from 8% to 17%. This includes CEO Guilin Shuang, who owns a person...

LG InnoTek will sell its patents and equipment related to its LED business to a Chinese LED company, TheElec has learned. The South Korean component maker will clean out equipment related to LED at its Paju plant within the month, people familiar with the matter said. LG InnoTek will handover some 10,000 patents related to LED to its Chinese counterpart. Besides the payment, this will allow the Korean firm to save around 1 billion won in maintaining those patents. Last year, LG began talks to sell its LED patents and equipment for 100 billion wo...

According to Korean media, LG InnoTek planned to sell its LED patents and manufacturing equipment for a Chinese company. The selling price was around KRW 100 billion, and their discussion about the sale has been started. The report has learned that this October, LG InnoTek revealed its withdrawal of the LED business. Actually, the company has made this decision since 2019, mainly due to the huge loss of KRW 1 trillion during 12 straight years for LED business. Originally, LG InnoTek decided to sell the LED manufacturing equipment in China and S...