Bangalore: Top technology companies Apple and HTC buried hatchets after a long patent battle, entered into an agreement.  

Apple sued HTC in 2010, accusing the Taiwanese firm of patent infringement. It was Apple’s first patent suit against a manufacturer that used Google’s Android platform, following which HTC suffered fall in its Smartphone sales, which until then ruled Android market in U.S. 

The truce which was signed on Saturday includes a 10 year licensing agreement covering all patents. In a joint statement the two companies said that they are happy to come to an agreement after all these years of patent disputes.

"We are glad to have reached a settlement with HTC. We will continue to stay laser focused on product innovation," Apple CEO Tim Cook said, reported AFP “. HTC CEO Peter Chou said his company was pleased to resolve the dispute so it could “focus on innovation instead of litigation.”

According to verge, the two tech companies did not disclose the terms of the new agreement and the deal is not expected to come at huge cost.

"We does not expect this license agreement to have any adverse material impact on the financials of the company," said HTC representative Jeff Gordon.

Since Apple first sued HTC, the company’s patent war also took on with competitors like Samsung and Google’s Motorola Mobility.

The Cupertino giant won a $1.5 billion in a patent lawsuit against Samsung but the company did not see any decisive win against Motorola. However Apple was most successful against HTC, and disrupted the Taiwanese Company’s product flow into crucial U.S. markets in late last year, after US International Trade Commission ruled that HTC had infringed upon one of four patents of Apple.

The new developments between two companies are to bring joint efforts towards innovations and to HTC in specific, lawsuit free environment.