Tokyo -- LG Electronics and Toshiba signed a patent cross licensing agreement for optical disc related products – including “next-generation DVDs” – providing each company with access to the related patents and technologies of the other, according to a statement issued in Japan.
In the joint announcement the companies said, “the agreement covers each company’s worldwide patents for optical discs and for the optical disc drives, players and recorders that use them.”
Officials from Toshiba and LG said the pact is expected to expedite product development and reduce development costs “for optical disc related products, including next-generation DVDs.”
Both companies are considered among the “global leaders” in optical disc related products.
Toshiba was also a major contributor to the development of the DVD standard and next-generation HD DVD standard.
Thus far, however, LG has only made public commitments to manufacture and market Blu-ray Disc optical disc players and drives, although it has shown HD DVD prototypes.