MUMBAI: Moser Baer India has settled its long drawn licensing and patent dispute with Philips.

The amiable settlement paved the way for Moser Baer to maintain and strengthen its market leadership and will also help the company cement its relationship as the preferred OEM for optical media brands.

Philips and Moser Baer have entered into a confidential settlement agreement ending a series of disputes in multiple jurisdictions pertaining to recordable CDs and DVDs. The settlement reached provides resolution of all claims and counterclaims without any admission of liability or wrongdoing by either party.

"This is a strong and healthy development for the optical media industry and will help us reduce our business risk and consolidate our market position. Not only does this settlement serve the interests of both parties involved, it is good for the optical media industry, reducing as it does the problem of market disruption and provides a more stable environment for the business to grow. We attach great importance to IPR-related issues, which are critical for the growth of the optical media industry," said Moser Baer executive director Ratul Puri.