On August 4, Cree issued a press release stating that the company and Crystal Optoelectronics Co., Ltd. (Crystals) signed a global patent agreement for cross-licensing LED chips, aiming to further promote the growth of LED lighting and LED bulb market. . Under the terms of the agreement, both parties will obtain the patent license for the nitride LED chip of the other party and grant the other party a patent for the non-nitride LED chip. During the term of the agreement, Cree will receive an authorization fee and a license fee from Crystal. Cree's groundbreaking technology and its extensive patent portfolio bring significant performance to its LED devices and LED lighting products. Cree is pleased to sign the LED chip licensing agreement with Jingdian, and Chairman and CEO Chuck Swoboda said that the agreement underscores the commitment of both companies to accelerate the adoption of LED lighting while respecting international intellectual property law. Importance and value. The signing of this patent licensing agreement will help us accelerate research and development innovation. In addition, this clearly demonstrates the patent strength of our LED chips and our desire to further promote the growth of the LED lighting market. Li Bingjie, chairman of Jingdian, said that through the cross-licensing agreement with Kerry, Jingdian can provide LED chips in the world. Everywhere, ultimately benefit our customers. Other terms of the license agreement have not been disclosed. The technology transfer between the two parties was not included in the agreement.
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