Samsung’s display division has established a new firm in the US specialising in trading and development of patents, as part of its efforts to combat intellectual property lawsuits filed by rival companies.
Being set up with an investment of $25m, the new Intellectual Keystone Technology (IKT) company would completely focus on acquiring and developing patents.
Samsung spokesman was cited by the Korea Times as saying that the company has recently established IKT.
“Patents are a good source of innovation and we also need to protect our intellectual property by strengthening our patent-related business,” spokesperson said.
According to reports, IKT is targeted at display technologies rather than directly settling scores with Apple on design and software patents.
The new patent firm acquired display-related patents earlier owned by Japan’s Seiko Epson on 30 April 2013, including patents related to LCD- and OLED, which are used in smartphones, tablets and televisions.
These patents would support the company’s plan to bolster its OLED business.
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Recently, the South Korean firm has acquired 10% stake in handset maker, Pantech, for $47.6m, as part of investments to support its mobile business.
