LG will exit LED business this year after it sells off its LED patents and equipments

The Korean company LG InnoTek will sell its LED patents and equipments to a Chinese LED company recently.

According to the agreement, LG InnoTek will release some 10,000 LED-related patents to the Chinese company.
Besides the payment, this will allow LG to save around 1 billion US dollar for those patents.

The Chinese company will make money from the LED-related business, especially in areas related to LED lighting, by relying on government subsidies.

Actually, LG InnoTek has invested much in its LED business before selling it, especially in UV LED areas. This deal might not be easy to be concluded because of the high-valued UV LED patents. It is said that maybe LG InnoTek could still keep licensing them in stead finally.