GE and LG signed a fee-free patent cross-licensing deal for cooking and freezer technology in order to improve their competitiveness against Whirlpool. Do freezers have technology? See Story
The story also indicates that "LG (is) ranked No. 3 in the North American home appliances market last year in sales, after Whirlpool and the Sweden-based company.
LG posted $12.6 billion in sales in 2007, while Whirlpool and Electrolux sold $19 billion and $15 billion, respectively." LG is doing $12.6B and is larger than GE appliance? What the hell are these people talking about? Must be an error in the reporting.
Interestingly, LG has been on the receiving end of several patent infringement suits pressed by Fisher & Paykel AND Whirlpool.
UPDATE June 13: Business Week statistic says LG’s appliance business is $12.6 billion globally. That clears up part of the problem.