Taiwanese handset manufacturer HTC and Apple have finally agreed to bury the hatchet in their patent dispute and even signed a 10-year agreement.
Among other, this means both companies will now be able to focus on innovation instead of not breaking each other’s patents.
“HTC is pleased to have resolved its dispute with Apple, so HTC can focus on innovation instead of litigation,” said Peter Chou, CEO of HTC.
The global settlement between HTC and Apple sees all present lawsuits dismissed. In addition, a ten-year license agreement is in effect, which covers current and future patents owned by both companies. Obviously, terms of the agreement are confidential.
“We are glad to have reached a settlement with HTC. We will continue to stay laser focused on product innovation,” said Tim Cook, CEO of Apple.