Matsushita Electric Industrial Co., the world's largest consumer electronics maker, and South Korea's LG Electronics Inc. settled a five-month dispute over alleged infringements on their plasma display technology patents.
Both companies withdrew legal action against each other, and said they would share the technology in a cross-license agreement, according to a joint statement released Monday.
The two firms also said that they would sign cross-licensing agreements in such areas as specifications for personal computers and DVD equipment. They will also set up a committee to discuss greater business cooperation and collaborate in the field of home air conditioners, the statement said.