LG Electronics, GE in pact to share appliance patents

ATLANTA (Reuters) - South Korea's LG Electronics (066570.KS) and U.S. manufacturer General Electric Co (GE.N) have agreed to use each other's patents for refrigerators and cooking appliances without paying licensing fees, the companies said.

In a statement, the they said the agreement will strengthen their competitiveness against other appliance makers. Chief rivals are U.S.-based Whirlpool Corp (WHR.N), the world's largest appliance company, and Sweden's Electrolux AB (ELUXb.ST).

LG said it has collaborated with GE on cooking appliances since 1999.

LG began selling its high-tech refrigerators and washing machines in the United States more than five years ago, and has won display space at some of the nation's biggest appliance retailers.

(Reporting by Karen Jacobs; editing by Carol Bishopric)