Samsung, LG Electronics decide to call off Recent Spat
Published By : 31 Mar 2015 | Published By : QYRESEARCH
South Korean consumer goods giants LG Electronics and Samsung Electronics stated on Tuesday that they have decided on calling off their legal quarrel comprising of a bitter conflict that lasted for several months over some damaged washing machines.
In a joint statement, both the companies declared that they would both withdraw all the complaints filed against each other and request legal authorities to abstain from doling out punitive actions in the ongoing cases.
The declaration comes nearly a month after Jo Seong-jin, the chief of LG appliances, was prosecuted by Seoul prosecutors on the charges of purposely damaging Samsung washing machines at a Germany-based retail store in last year’s September, following a complaint filed by Samsung. Prosecutors had not disclosed what penalty was being indicted on Jo.
The series of the bitter legal splatter between the companies that followed from the incident attracted a lot of public mockery as the issues discussed included details about how many washing machines were damaged by Jo and other LG employees.
A surveillance video was published by LG on the YouTube so as to prove Jo’s innocence in the matter. However, Samsung quoted that the video was heavily tampered to make it look in Jo’s favor.
The case is just another from the many clashes that have occurred between the two companies over the past many years, notable ones including argument over which of the two has a bigger share of the air conditioner market or refrigerators of which of the two have more capacity.
In the statement, the companies have stated that both sides have unanimously decided to avoid further legal intervention or action and that any conflicts in the future will be solved through mutual agreement and dialogue.