Vestel becomes 1st Turkish company to earn revenue from Standard Essential Patent Licensing

By Sibel Morrow

ISTANBUL (AA) - Vestel has become the first Turkish company to generate revenue from Standard Essential Patent (SEP) licensing, which covers patents essential to industry standards such as video compression and telecommunications.

Being the first Turkish company to participate in the SEP licensing program as a licensor, Vestel earned revenue through the AVC licensing program of Via Licensing Alliance (Via LA), in which it is listed as a patent holder, the company said in a statement on Tuesday.

Vestel joined the licensing program after its SEP patents were reviewed and approved by an independent intellectual property (IP) firm designated by Via LA. Other global technology giants in the program include Dolby, Samsung, Apple, Google, and LG.

"Participating in such a prestigious platform underscores the company’s contributions to technology and its commitment to research and development (R&D)," said Vestel CEO Ergun Guler.

"Vestel’s strength in technology production stems from our global R&D efforts and the innovative vision of our team of 1,800 experts," Guler said.

"Each year, we invest 2% of our revenue in R&D to shape future technologies and deliver industry-leading solutions. By becoming the first Turkish company to act as a licensor in the SEP program, we have demonstrated our leadership and innovation-driven approach worldwide."

As "the first and only Turkish company to generate revenue from SEP licensing," Vestel’s success "also contributed to the international prestige of Turkiye’s technology sector," Guler said.