Apple and HTC come to terms on 10 year licensing agreement
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Apple and HTC have been embroiled in a patent lawsuit, with each side refusing to budge, but they appear to have finally come to an understanding.
In a press release by the two companies, it was announced that a settlement has been reached to dismiss all lawsuits in exchange for a 10 year licensing agreement. The deal covers all current and future patents owned over the next decade but the exact details are confidential. Neither company had much to say in the press release, with both CEOs simply emphasizing a need to focus on innovation rather than litigation.
Apple has been battling on multiple fronts to protect their various patents and they managed to win a $1bn settlement from Samsung earlier this year. Unfortunately for Apple, not every lawsuit will end up with the same result and they obviously didn't want to go through the same headache with HTC.