LG Electronics has sold 48 patents to Chinese smartphone maker Oppo.
According to the United States Patent and Trademark Office, the South Korean electronics maker sold the standard essential patents to Oppo in November.
The SEPs are related to codec, the technology needed to compress digital video and audio data. Out of the 48 patents, 34 are already registered USPTO and 14 are pending.
LG has a large portfolio of patents but as it exited the smartphone market in 2021 it no longer needs some of them.
The company is already using its some 24,000 patents related to 4G, 5G, Wi-Fi, and smartphone-related technologies to earn profit through licensing.
Oppo, Vivo, and other BBK subsidiaries of China had faced patent litigation for lacking some of these patents.
The only smartphone company in China with sufficient patents is Huawei.
