Samsung and Apple have been warring over patents for years – is it finally over?
Samsung has agreed to pay a staggering $548 million (£362m) settlement fee to long-term rival Apple.
The South Korean tech giant will pay the sum in hopes of discontinuing a patent row with its Californian competitor that first began in 2011.
The settlement deal was revealed in court papers filed with the Californian legal authority on Thursday, December 4, 2015.
Samsung made the agreement to pay Apple within 10 days of receiving an invoice from the rival firm.
Unfortunately, the corporate squabbling isn’t over yet; a US court will deliberate over whether Apple deserves a higher payout in 2016.
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Apple was originally awarded over $1 billion in damages back in 2012, but that amount was reduced, and subsequently split into two parts.
The split left Samsung owing $548 million for technology patent infringements, and a further $382 million for alleged copying of product packaging.
The second sum will be wrangled over in court next year, and could rise even higher as a result of the deliberations.