Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens pigeon for delivering the clues of Yong Zhi! CTOnews.com, Feb. 6 (Xinhua)-- the latest statement from litigation company GLS Capital confirmed that Samsung has agreed to sign a $150 million (currently about 1.019 billion yuan) agreement to end Nanoco Technologies Ltd. In its lawsuit, the latter alleges that Samsung's QLED TV infringes five of its TV display patents.

According to Adam Gill, managing director of GLS Capital, "Nanoco is a real pioneer in its field, with basic technology that eliminates the use of toxic heavy metals such as cadmium and makes displays like Samsung's QLED TVs brighter and more environmentally friendly."

Gill confirmed that the settlement ended all global lawsuits between the two companies, including in China and Germany, and provided Samsung with a global license to use Nanoco technology.

CTOnews.com learned that the dispute dates back to early 2020, when Nanoco filed a federal lawsuit in Texas, alleging that Samsung embezzled quantum dots for its QLED TVs based on technology samples provided by Nanoco, and that Samsung developed its own competitive technology without paying for a license to use Nanoco.

GLS Capital is understood to have funded Nanoco's lawsuit, and GLS founder Adam Gill confirmed that the company would earn more than 60 per cent (more than $90 million) from Nanoco's settlement, but did not provide further details. Samsung has yet to respond.

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