Samsung and LG have agreed to end all legal proceedings between each other, and to henceforth settle all conflicts with discussion rather than litigation.
The South Korean tech giants have been embroiled in a legal battle over a broken Samsung-made washing machine from last year's IFA consumer electronics trade show that Samsung alleged LG executives had wilfully sabotaged.
Samsung and LG have also been fighting over OLED tech leaks that began in 2011, as well as an LG employee who was accused of stealing air-conditioner system secrets from Samsung, which is currently being investigated by authorities.
Both companies released a copy of the agreement to end all the legal battles, signed and stamped by Samsung Electronics CEO Kwon Oh-hyun, Samsung Display CEO Park Dong-geun, LG Electronics CEO Koo Bon-joon, and LG Display CEO Han Sang-beom.
The two conglomerates said the agreement was reached for the greater good, in consideration of both the current severe national economic situation that the two must work together to help overcome, and to focus on improving service and products for consumers.
Samsung and LG will withdraw their suits and ask for each others' leniency from the authorities; criminal cases in South Korea do not automatically end when the plaintiffs withdraw their suits, and authorities can still punish the defendant.
Samsung and LG spokespersons confirmed that all three litigations will end, but declined to comment further.
The agreement comes as LG reveals that its G4 flagship phone will be bound in natural leather, which will likely differentiate it from Samsung's use of metal casing for the Galaxy S6.
LG has sent out invitations for the unveiling of its next-generation flagship phone, the G4, which will occur sequentially in six countries.
Events in New York, Paris, and London are slated for April 28, while those in Seoul, Singapore, and Istanbul will take place on April 29.
The invitation, which featured a light-brown leather-coloured background with white stitches, comes with the tagline "See the Great, Feel the Great", with the letter "G" in its traditional font used for the G series.
LG insiders said the invitation shows the "natural leather sheets" used for the back cover of the G4. They also said that the software will be drastically improved, compared to that of its predecessor, with the focus on ease of use.
Samsung used a leather-feel back cover for the Galaxy Note 4, but it was made out of plastic.
Source: ZDNet Korea