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Microsoft is banking on royalties! Today LG has become the latest manufacturer in the long line of Android vendors to sign a patent licensing agreement with Microsoft. The agreement allows LG to use Microsoft's patented technology in its phones, tablets and other devices that run Android.

ARS said that this is the eleventh agreement between Microsoft and Android-using OEMs, with other licensees including Samsung, HTC, and Acer. In total, Microsoft says that more than 70 percent of all Android smartphones sold in the US are covered by a similar patent agreement. The only major manufacturer now without a license agreement is Motorola Mobility.

Terms of the agreement were not disclosed but we know that it will involve payment of a royalty to Microsoft for each handset sold.

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