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Apple settles with touch feedback technology firm Immersion

The terms of the agreements were confidential so the 50% hike in Immersion's share price is probably pure guesswork
A smartphone without haptic technology is virtually unthinkable these days

Touch feedback technology outfit Immersion Corporation’s (NASDAQ:IMMR) stock shot up in pre-market deals after it reached a global settlement with iPhone maker Apple Inc (NASDAQ:AAPL).

Immersion’s shares rocketed 50% to US$11 after it revealed it had entered into settlement and licensing agreements with the consumer electronics giant, the terms of which were confidential.

Haptic feedback patents infringed

Immersion had sued Apple in February 2016, claiming the world’s biggest company by market capitalisation had infringed some of Immersion’s haptic feedback patents.

Its lawsuit stated that the haptic feedback systems of the Apple iPhone 6/6Plus, iPhone 6/6s Plus and Watch/Watch Sport/Watch Edition infringed upon two of Immersion’s patents, and the iPhone 6s and 6s Plus allegedly infringed upon a third patent.

Apple’s stock was down 1.5% at US$168.96.

In the regular session, Immersion shares soared over 47% to US$10.84.

Apple shares shed 1.71% to stand at US$168.58 each.

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