NEC Corp. said it has sold a liquid crystal display panel patent to Taiwan's Hon Hai Precision Industry Co. for ¥9.45 billion.
The electronics giant has decided to secure additional revenues by selling the patent for personal computer and mobile phone displays, NEC officials said Tuesday.
Hon Hai is expected to use the patent for its production of smartphones, LCD TVs and other consumer appliances for companies including Apple Inc. Hon Hai Chairman Terry Gou told reporters that the two companies had struck a deal on the patent transaction during a visit to NEC's Tokyo headquarters in August.