Shares in Taiwan’s leading smartphone maker HTC surged by its daily 7.0 per cent limit Monday after it announced it had reached global patent settlement with US technology giant Apple.

HTC climbed to T$ 241.5 (US$ 8.33) as dealers welcomed the weekend deal with the iPhone maker, bringing an end to all outstanding litigation between the two companies.

Analysts said the launch of HTC’s first cellphone with a 5.0-inch screen — scheduled for Tuesday in the United States — would add to buying sentiment.