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Samsung Electronics Co has agreed to pay $150 million to British nanotechnology firm Nanoco Technologies to settle patent lawsuits involving the technology used in Samsung's LED TVs. Nanoco and an investor in its litigation said Friday.
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Nanoco and Chicago-based financing company GLS Capital said in an announcement that the settlement includes a license contract and an agreement for the "transfer to certain patents," which solves the dispute between the United States, Germany, and China.
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Samsung and Nanoco disclosed to a Texas Federal court on the day of the trial last month that they had reached an agreement to settle the matter, but there were no specifics when the court was forming.
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Samsung representatives Samsung did not respond immediately to a request for comments.
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Nanoco's quantum dots enhance the backlighting of LED displays without using harmful heavy metals such as cadmium.
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It filed a lawsuit against Samsung for damages in the year 2020. claiming that the Korean technology giant copied its technology after it received samples in talks over possible collaboration.
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The Texas lawsuit claimed Samsung had begun to incorporate Nano co's technology into its high-end QLED TVs in 2017.