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What does the resolution of this matter mean for LG?

LG

First of all this resolution clears any concerns customers had with LG’s position in the marketplace. The resolution is a step forward for the industry, not just for LG. This means we can continue to innovate. As you know, LG has been an industry leader in this space and we want to bring products to the market by having complete access to the technology. LG plans to move ahead quickly on several significant applications including building innovations into its iris recognition technology. Our product has already authenticated millions of people around the globe. Our goal is to develop products that can bring authentication to market driving applications. We need to help the market see iris biometric technology as a technology that protects and increases productivity. LG’s presence in the global consumer market will enable us to achieve this goal.

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Why did this happen now?

LG

We have been in discussions for some time to bring this to a win-win resolution. The time was right to move forward and bring technological innovation to market. Both parties recognize that a resolution is important, not only for LG and L-1 but also for the iris industry.

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How will this impact the Iris Biometric market in general?

LG

The iris recognition market is growing very rapidly and this is an opportunity for LG to provide authentication solutions to the market that can bring iris recognition technology up to the same or higher level of market acceptance as fingerprint technologies. This will also mean increased innovation and new applications.

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What other news is happening at LG?

LG

You will be hearing more great news from LG in the coming months. We will be announcing LG’s involvement in several new deployments and the introduction of new products over the next few months. We are very pleased with our current business and, with this issue now resolved, LG’s future is even more promising.

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