Microsoft has signed an agreement with LG Electronics Wednesday to broaden their business partnership beyond the mobile segment and develop new business opportunities focusing on the "Internet of Things" (IoT). The two companies signed a memorandum of understanding (MOU) over IoT-related businesses.

The Korean company said it will release products and services for corporate clients and general consumers using MS-patented cloud computing platforms. Several LG-branded products supporting Microsoft solutions are expected to debut at next year's technology CES fair to be held in Las Vegas, Nevada.

MS CEO Satya Nadella has also a dinner meeting with Samsung Electronics Vice Chairman Lee Jae-yong, the company's mobile chief Shin Jong-kyun and the head of Samsung Future Strategy Office Choi Gee-sung, late Tuesday, at Samsung's main office in Seocho, southern Seoul. Samsung reportedly requested its American business partner to level-up the partnership in smartphones and to find common ground for settlements over ongoing patent litigation.