LG snatched organic LED (OLED) trade secrets from its fellow South Korean and rival smartphone maker, according to an injunction filed by Samsung.

For several years, both companies have been making OLED display technology as a popular choice of major OEMs for smartphone screens because of its low power consumption and bright color intensity.

However, Samsung apparently found sufficient evidence to incriminate LG for seizing its trade secrets by baiting former employees to work for the company, and now it seeks compensation of 1 billion won (around US$ 884 million).

“LG Display has consistently acquired our OLED technologies and other business secrets by inducing our researchers to transfer,” says a Samsung official in a Yonhap News wire service.

“Over the past 10 years, we invested more than 1 trillion won in the field. Thanks to our efforts, we now hold exclusive tech that allows us to claim nearly 99 percent of the world’s OLED market.”

Two months ago, 11 people that included current Samsung employees were charged of leaking confidential information to LG; accordingly, Samsung asked LG for an apology on the infraction.

LG already said it would countersue later for defamation on Samsung’s earlier accusations.

LG and Samsung have a hostile competition in South Korea – their home market – and are rivals in the lucrative display industry, with companies such as Apple investing on display panels in bulk.

Source: Yonhap News

Image: ftchris via Flickr (CC)

About Francis Rey Balolong

A coffee junkie who spends most of his time writing about the latest news on social media and mobile technology. I would definitely consider myself a nerd (in the coolest most hipster way possible). That being said, I love technology, music, writing, and all things mobile. Follow me: Google+ Twitter

Don’t forget to subscribe and receive our latest posts in your inbox.