Apple and HTC have settled their differences on the patent front, according to a joint statement released by the two companies.
The terms of the settlement have not been revealed but all current lawsuits between the two companies have been or will be dismissed and Apple and HTC will also be entering into a ten-year licensing agreement that should stave off any further legal action.
Both company’s CEOs have made statements on the new agreement, with HTC CEO Peter Chou saying “HTC is pleased to have resolved its dispute with Apple, so HTC can focus on innovation instead of litigation.”
Apple’s Tim Cook said ““We are glad to have reached a settlement with HTC. We will continue to stay laser focused on product innovation.”