HTC and Apple have jointly announced that they have reached a global settlement that includes the dismissal of all current lawsuits and a 10-year license agreement.

The license extends to current and future patents held by both parties, said the companies, adding that 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." HTC CEO Peter Chou said in a statement. Also in the same statement, Apple CEO Tim Cook remarked that "We will continue to stay laser focused on product innovation."

The news of the settlment boosted HTC shares on Taiwan's stock market, with its share price rising by the day's limit of 7% in early trading to NT$241.5 (US$8.34).

According to a recent IDC report, Samsung Electronics shipped a total of 56.3 million smartphones in the third quarter of 2012, up 100.4% from a year ago, while Apple's smartphone shipments grew by a smaller 57.3% on year to 26.9 million units. Meanwhile, HTC saw its smartphone shipments decline 42.5% from a year earlier to 7.3 million units in third-quarter 2012.

By: DocMemory
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