Samsung announced that it had reached a $150 million settlement to end a lawsuit filed by Nanoco Technology, which accused the South Korean company of using its own technologies to manufacture QLED TV screens.
According to the decision of the Federal Court in the US state of Texas that examined the case, the financial settlement will end the legal dispute between the two companies in the United States, China and Germany.
The lawsuit relates to the use of a new technology based on quantum dots, without the need to use toxic heavy metals such as cadmium, which will allow QLED TV screens, such as those provided by “Samsung”, to become more luminous and quality, as well as environmentally friendly.
It is noteworthy in the lawsuit that Samsung's use of the technology officially registered in the name of Nanoco was detected during a conversation that brought the two companies together regarding possible cooperation, and during that it was confirmed that some samples coming from the Samsung TV screen use the same technology without a license.
The lawsuit was filed in the US state of Texas in 2017, by the investment company GLS Capital, fully funded by Nanoko, as the first will receive 60% of the total settlement amount reached.