Peter Chou was speaking at a Japanese product launch when he was asked about the rumored $6 to $8 price HTC was paying Apple for each Android phone the handset manufacturer sold.
"I think that these estimates are baseless and very, very wrong. It is a outrageous number, but I'm not going to comment anything on a specific number," said Chou. "I believe we have a very, very happy settlement and a good ending."
An analyst has estimated that HTC will ship 30 to 35 million Android-powered smartphones, subsequently generating between $180 million to $280 million in licensing fees for Apple.
The two companies did not reveal which patents they'll be sharing or if cross licensing will take place. Either way, HTC didn't change its financial predictions for the fourth quarter following the deal's announcement.