Apple shares higher as patent dispute with HTC is settled

<p>Shares in Apple closed higher last week ahead of a settlement with HTC over patent disputes.</p>

Shares in Apple closed higher on Wall Street last week before a key patent dispute between the Californian technology firm and rival HTC was settled.

Yesterday (November 11th), the two companies signed a ten-year licence agreement extending to current and future patents held by either business, putting and end to an impasse that began in March 2010.

Apple – which is also embroiled in multiple legal battles with Samsung around the world – has been fighting more than 20 cases against HTC, according to AFP.

Head of HTC Peter Chou said of the settlement: "HTC is pleased to have resolved its dispute with Apple, so HTC can focus on innovation instead of litigation."

The iPhone maker and its rivals have been suing and countersuing for years, accusing one another of copying designs, technology and ideas in a bid to gain supremacy in the highly lucrative smartphone arena.

At close of play on Friday, Apple advanced on the Nasdaq by 1.7 per cent to a value of $547.06.

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