Tech giants Samsung and Apple (APPL) announced in a joint statement Tuesday that they have agreed to drop all lawsuits outside the U.S.
However, the two companies are continuing to pursue their existing disputes in the U.S. courts over allegations of copying. The settlement covers cases in Japan, Germany, South Korea, the Netherlands, Australia, the UK, France and Italy.
Terms of the agreement were not disclosed but both firms have not agreed to license each others’ technology. That means, no money will be changing hands and there will be little to stop new lawsuits should circumstances of disputes change in the future.
The world’s two biggest smartphone manufacturers have been battling it out over smartphone and tablet patents in various courts both in the U.S. and abroad for years. Apple has already won two California suits and has received $930 million in 2012 and $120 million last year from Samsung. Cupertino however, has yet to collect a dime from either case.
Here’s the statement via Bloomberg from both companies:
“Apple and Samsung have agreed to drop all litigation between the two companies outside the US.This agreement does not involve any licensing arrangements, and the companies are continuing to pursue the existing cases in US courts.”
Apple shares closed less than half a percent lower on Tuesday, and are edging 33 cents lower in premarket hours trading.
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