While archrivals Apple and Samsung continue to battle it out in courts across continents, Apple’s Taiwanese rival HTC seems to have found a way to settle things more amicably. Both Apple and HTC have made formal announcements saying that they would be withdrawing litigations against each other and would be cross licensing each other patents for the future so that both the companies can concentrate on innovation – rather than litigations.
This move was welcomed by analysts, tech enthusiasts and the shareholders of both the companies alike. Both the companies have issued statements confirming the licensing agreement.
The licensing agreement stands valid for 10 years and during this period, both the companies would be paying each other whilst using patented technologies owned by the respective firms. All current lawsuits between the two companies have been dismissed and they won’t be fighting out in court – at least for the next decade.
Also note that the licensing agreement stands valid for all future patents too. Finer details of the agreement remain 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.”
Now, let’s all hope Apple and Samsung too somehow manage to settle their differences and make the world a better place to live. 😛