In a filing at a district court in San Jose, California, late on Wednesday, the two tech giants notified the judge that that "they have agreed to drop and settle their remaining claims and counterclaims in this matter".
However, the terms of settlement weren't disclosed, and it's unclear who's coming out on top.
The retrial regarding damages was one element of a United States dollars 548 million penalty - knocked down from an original USD 1 billion jury award - Samsung was ordered to pay for copying iPhone patents.
Michael Risch, a professor of patent law at Villanova University, said that because of the recent verdict the settlement likely called for Samsung to make an additional payment to Apple.
Apple and Samsung have finally settled a seven-year battle over smartphones that went all the way to the US Supreme Court.
The ruling, of course, didn't spell the end for Apple and Samsung's legal squabbles. APPLE wanted about $1 billion; SAMSUNG wanted to pay about $28 million.More news: Prince William honours Holocaust victims during Jerusalem trip
In 2015, Samsung Electronics compensated Apple with $548 million, with design infringement accounting for $390 million of the amount.
"We believe deeply in the value of design", Apple said recently, "and our teams work tirelessly to create innovative products that delight our customers".
As part of an earlier verdict, it was determined that Samsung infringed on three of Apple's iPhone design patents.
"We're grateful to the jury for their service and pleased they agree that Samsung should pay for copying our products".