Apple Inc. said Tuesday it will be paying $15.5 billion to resolve antitrust charges in an antitrust lawsuit it brought against Chinese tech company Tencent Holdings Co. in 2013.
In its lawsuit, Apple accused Tencent of stealing trade secrets, monopolizing intellectual property, charging unfair and deceptive business practices and imposing unfair and unjustified price controls, according to a person familiar with the matter.
Apple had already agreed to pay $13.9 billion to a former employee who accused Tench of defrauding investors by inflating its market share in the smartphone market.
Tencent has denied the allegations.
The settlement, first reported by Bloomberg, comes after an earlier agreement between the companies, which were among the first to take on Tencent, and the Justice Department.
Apple and Tencent agreed in 2014 to a series of conditions in the settlement.
Those conditions were designed to prevent a repeat of the Chinese government-backed antitrust probe into Tencent.