Apple and HTC end patent dispute

Smartphone manufacturers Apple and HTC have settled their patent dispute, which began in March 2010.

The firms have also signed a 10-year licensing agreement that "extends to current and future patents held by both parties", according to a press release on Apple's website.

"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.

Apple CEO Tim Cook also expressed relief at the dispute's closure.

"We are glad to have reached a settlement with HTC," said Cook. "We will continue to stay laser focused on product innovation."

Apple has an ongoing patent dispute with rival smartphone manufacturer Samsung, which has already seen multiple courtroom dramas unfold across the globe.

Earlier this year a court in California awarded Apple over £650m in damages against Samsung for infringing on its iPhone design. Samsung is currently pushing for a retrial in the US, and the alleged infringement has been thrown out of court in many other countries, including South Korea.