Samsung Electronics Co. Ltd. has agreed to settle the patent dispute with Eastman Kodak. This South Korean electronics giant will pay a masked amount to Kodak in lieu of the patent dispute.

In November, Kodak had reported a matter to the commission that the technology patented by Kodak for use in digital cameras in mobile, was breached by Samsung and LG Electronics.

As a counteraction, Samsung also filed a similar complaint with ITC against Kodak.

Samsung was held by the International Trade Commission judge for breaching on two patents of Kodak. Now the two companies are negotiating for the settlement.

Although no details of the Kodak-Samsung cross-licensing have been revealed by any of the parties involved, it has been confirmed that once executed, the deal will help the firms reach final terms of settlement and they will then jointly drop the patent case.

Shares in Kodak were up 3.7%.