HTC and Apple settle patent infringement suit, both will now “focus on innovation instead of litigation”

Back in 2010 Apple went after HTC for infringing on 20 patents relating to iOS, but today HTC and Apple have just announced that they’ve settled their legal differences. The financial terms were not disclosed. – might come out in some future HTC quarterly result, but the two companies will now focus on “innovation.” Full press release below:

HTC and Apple have reached a global settlement that includes the dismissal of all current lawsuits and a ten-year license agreement. The license extends to current and future patents held by both parties. The terms of the settlement are confidential.

“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.

“We are glad to have reached a settlement with HTC,” said Tim Cook, CEO of Apple. “We will continue to stay laser focused on product innovation.”

2012 was a good year for Apple. Billion dollar baby from Samsung, now HTC. Who’s next?

Source: Newswire
Via: Engadget