The two companies have also signed a 10-year patent license agreement that also extends to current and future patents held by both parties.
The terms of the settlement are not being disclosed, but HTC did note that the settlement wont affect its financial forecast for the current fiscal quarter.
"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's Tim Cook made a similar comment.
The two companies have been engaged in tit-for-tat patent lawsuits since early 2010, and HTC has invested heavily in building up its patent portfolio in order to bolster its defenses, although courts have been less impressed with the defensive strategies.
The settlement with HTC will raise speculation that Apple, under its new CEO is more willing to negotiate with companies, and marks a further break with its former CEO, Steve Jobs who famously vowed to do whatever it took to destroy the Android smartphone system.
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