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Last updated: August 6th, 2014 at 07:18 UTC+02:00
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As a result of this agreement all lawsuits currently pending in courts around the world, in Australia, Germany, France, Italy, Japan, the UK, Netherlands and South Korea to be precise, will be withdrawn and they will cease to engage in costly legal battles.
However its imperative to note that both Apple and Samsung are not giving up on lawsuits filed in the US. The former has already been awarded nearly a billion dollars in damages whereas Samsung is pursuing its own damages claim against the Cupertino company. In a joint statement the companies said that this agreement doesn't involve any licensing arrangements and that they'll continue to pursue existing cases in US courts.
Nevertheless this does show that Apple and Samsung have seen eye to eye on some level and perhaps this would help them end the legal battle they fight in the US. They've tried for an out of court settlement in the past but haven't been so lucky as far as cases in the US go. Maybe there's still hope.
Adnan Farooqui is a long-term writer at SamMobile. Based in Pakistan, his interests include technology, finance, Swiss watches and Formula 1. His tendency to write long posts betrays his inclination to being a man of few words.
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