HTC and Apple have reached a global settlement that includes the dismissal of all current lawsuits that began in March 2010. The companies also announced a ten-year license agreement. The companies say that the license extends to current and future patents held by both parties. The terms of the settlement are 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."

Apple sued HTC in 2010, accusing the Taiwanese handset company of infringing on the iPhone maker's patented technology.

Late last year, the U.S. International Trade Commission ruled that HTC had infringed upon one of four patents Apple had disputed and imposed a sales ban on some of the Taiwanese maker's phones.

Although HTC devised a technical workaround to Apple's patents, the company announced in May that shipments of its phones were being held up by U.S. customs officials.