After filing a series of lawsuits against each other, Sony and LG have finally decided to hug it out. The two companies had been locked in messy disputes, most notably when the Korean electronics giant had customs officers seizing PS3 consoles in the Netherlands due to a court injunction. The litigation bombardments stemmed from the two companies failing to renegotiate a new technology sharing agreement. The previous agreement had gone stale three years ago.
Both LG and Sony agreed to drop their respective lawsuits. Although both companies were very tight-lipped about the newfound peace, they did confirm that a new cross-licensing agreement has been made. Considering the customs seizures of PS3s occurred in March, the relatively quick resolution is promising for Sony. Taking into account their track record recently in patent infringement cases, this resolution was a best-case scenario. Sony can get back to selling PS3s, which they need to do. They are still recovering from the PlayStation NotWork in May and need all the momentum they can garner as we move into the holiday season. The even better news is that Dutch would-be PlayStation fans once again have the opportunity to go down to their local electronics outlet and buy a PS3, and who doesn't want that opportunity?