Washington, Nov 12 (ANI): Tech firms Apple and HTC have announced a broad ten-year licensing agreement that settles all of the lawsuits between the companies around the world.
The two companies said that the agreement covers current and future patents for both firms.
"HTC is pleased to have resolved its dispute with Apple, so HTC can focus on innovation instead of litigation,"Peter Chou, HTC's chief executive, said in a statement.
According to the Wall Street Journal, Apple's chief executive Tim Cook also expressed relief in a statement.
"We will continue to stay laser focused on product innovation," he said.
According to the Journal, the broad patent deal comes after HTC suffered several legal setbacks, such as a decision in the U.S. International Trade Commission that said Apple's iPhone and iPad mobile devices had not infringed HTC's patents.
The Taiwanese mobile maker had put a lot of effort into its litigation, including a 300 million dollars cash acquisition of S3 Graphics Co., which HTC said was purchased with the intention of using that company's patents in its continuing legal battles, the Journal said.
In a separate case, the ITC found HTC's phones infringed Apple's patents, it added. (ANI)