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Samsung and Huawei drop lawsuits in latest smartphone truce

Move to settle patent dispute comes as global sales slow

GUANGZHOU -- Samsung Electronics and Huawei Technologies have reportedly agreed to settle their three-year dispute over smartphone patents, likely to refocus their energies on countering a global slowdown in demand.

The world's biggest smartphone vendor and its leading Chinese rival reached a settlement through mediation by the Guangdong High People's Court in southern China, local media reported Tuesday. Terms have not been made public, but the companies are believed to be discussing cross-licensing of patents tied to basic technologies.

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