The Times reported that the two sides officially settled all of their claims against one another on Wednesday, bringing an end to a long, drawn-out battle over phone technology in which Apple even tried to block Samsung phones from reaching the market. Back in May, Samsung was ordered by the jury to pay Apple $538m in damages.
"Plaintiff Apple Inc. and Defendants Samsung Electronics Co., Ltd., Samsung Electronics America, Inc., and Samsung Telecommunications America, LLC would like to inform the Court that they have agreed to drop and settle their remaining claims and counterclaims in this matter", the settlement notice stated.
The jury in a lower court in San Jose, California, voted in Apple's favour. Apple declined to comment on the agreement, but an Apple rep referred CNN to a company statement released last month that said, "Apple ignited the smartphone revolution with iPhone and it is a fact that Samsung blatantly copied our design".
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Apple first sued the Korean technology giant back in 2011, and it won the case in 2012. "This case has always been about more than money".
Apple and Samsung are no longer fighting.
The Apple vs Samsung legal battle that has spanned seven years and numerous courtroom showdowns is finally over. While Apple scored a major public relations victory with an initial $1 billion verdict in 2012, Samsung also obtained rulings in its favour and avoided an injunction that would have blocked it from selling phones in the USA market, Risch said.
Samsung paid $548 million of the $1.05 billion owed to Apple in 2015, but appealed all the way to the U.S. Supreme Court to reverse the $399 million decision.