Apple NASDAQ:AAPL HTC PINK:HTCXF Settle Patent Dispute, Ink Licensing Deal
Apple Inc. and HTC Corp. announced a broad 10-yr licensing agreement that settles all of the lawsuits between the companies around the world.
The @ companies said late Saturday the agreement covers current and future patents for both firms. More specific terms of the deal were not disclosed.
Continue Reading Below
“HTC is pleased to have resolved its dispute with Apple, so HTC can focus on innovation instead of litigation,” Peter Chou, HTC’s chief executive, said in a statement.
Tim Cook, Apple’s CEO, also expressed relief in a statement. “We will continue to stay laser-focused on product innovation,” he said.
An Apple spokesman declined to comment further about the agreement.
An HTC spokeswoman declined to provide specifics of the deal.
The broad patent deal comes after HTC suffered several legal setbacks, such as a decision from the US International Trade Commission that said Apple’s iPhone and iPad mobile devices hadn’t infringed HTC’s patents. The Taiwanese handset maker had put a lot of effort into its litigation, including a $300-M cash acquisition of S3 Graphics Co., which HTC said was purchased with the intention of using that company’s patents in its ongoing legal battles. In a separate case, the ITC found HTC’s phones infringed Apple’s patents.
In striking the settlement, HTC joins Nokia Corp. NYSE:NOK as handset makers that have settled litigation with Apple. Nokia’s settlement, announced last summer, included a payment from Apple.
The settlement comes as Apple has become an epicenter of a global patent war among industry titans, including Samsung Electronics Co. PINK: SSHNY and Google Inc.’s NASDAQ:GOOG Motorola handset unit.
Apple was asked several times to attempt a settlement with Samsung during its high-profile case in a California court several months ago. Heads of both firms held talks but were unable to strike a deal. Apple ultimately won the case, with a jury awarding it $1-B in damages. Samsung is appealing the decision.
Mr. Cook has expressed interest in settling those cases as well, on conference calls and in interviews, but so far neither Apple or its remaining opponents have been able to reach agreements.
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
Copyright Live Trading News All rights reserved.