Apple and HTC have reached a global settlement, ending the two companies' ongoing slew of patent infringement lawsuits.
The agreement will see Apple and HTC enter a 10-year licence agreement extending to a number of undisclosed patents held by both companies.
The full terms of the settlement have not been disclosed and at the time of publishing HTC and Apple had not responded to V3's request for comment.
Despite remaining tight-lipped over the details, both companies welcomed the settlement, claiming it will allow them to refocus their efforts on creating better products.
"HTC is pleased to have resolved its dispute with Apple, so HTC can focus on innovation instead of litigation," said HTC chief executive Peter Chou.
Apple chief executive Tim Cook noted, "We are glad to have reached a settlement with HTC. We will continue to stay laser focused on product innovation."
Apple's case with HTC is one of many currently being mounted by the iPhone maker. Previously, Apple had launched patent infringement claims against numerous other smartphone and tablet manufacturers including Motorola and Samsung.
Most recently, Apple added Google's Jelly Bean operating system to the list of items it wants banned in its US case against Samsung. Prior to its attack on Jelly Bean, Apple won a $1bn landmark US victory over Samsung.
Apple and Samsung's legal battle began in the US in 2011, after Apple accused Samsung of "slavishly copying" Apple iPad designs with its Galaxy tablets. Samsung subsequently responded to the accusation with its own slew of patent infringement claims.
Samsung and Apple are currently embroiled in 50 patent lawsuits across 10 countries. The decision on whether a US sales ban will be granted is not expected until December.