South Korean doyen electronic firm Samsung has recently been involved in an alleged infringement of OLED-related patents.
In the wake of that incident, Samsung has allegedly confronted to pen a $150 million agreement to end Nanoco Technologies Ltd.’s lawsuit. The lawsuit overture shows that Nanoco filed litigation against Samsung for using its QLED TVs technology.
Adam Gill, GLS’s Capital managing director, said “We were proud to support Nanoco in obtaining the recognition and compensation they deserve for their fundamental inventions.” A whopping $150 million has been rummaged to liquidate in the USA, China, and Germany.
The South Korean mobile manufacturer Samsung and Nanoco concurred in a federal court trial a month back that both the companies had arrived at a mutual agreement to defray the disputation.
The detailed information about the deals is yet to be revealed, and it may never appear in the eyes of common people since the terms were already been closed. Samsung has been accused by Nanoco of copying the latter’s OLED technology.
According to Capital MD Adam Gill, “Nanoco is a pathfinder in its department. Its Supreme innovative technology offers quantum dots to be out-shelled without the use of toxic heavy metals like cadmium, enabling displays like Samsung’s QLED televisions to be brighter, brilliant, and more environmentally friendly.”
The happenings were allegedly discovered after getting samples while both companies were in discussions for a quick collaboration. The Texas litigation accused Samsung of keenly luring out Nanoco’s technology for high-end QLED TVs launched in 2017. GLS Capital funded Nanoco’s lawsuit, albeit critics.
GLS founder Adam Gill stated that the company would certainly get over 60% of the proceeds from Nanoco’s settlement but did not offer further information on the case. Even, Samsung hasn’t yet said anything about the settlement