The CEOs of Apple and Google have reportedly held private talks over the escalating patents row engulfing the smartphone industry, raising hopes that a diplomatic solution may be found.

According to sources at Reuters, Apple’s Tim Cook and Google’s Larry Page have had phone conversations this week following last Friday’s landmark ruling in favour of Apple over Samsung in the most high-profile smartphone patents dispute case to date.

Apple was awarded US$1.05 billion in damages and the decision could lead to sales bans on several Samsung products. With Samsung the most prominent user of Google’s Android software, many viewed the case as a "proxy war" between Apple and Google.

One source said that a possible solution being discussed by Cook and Page is a truce involving disputes over the “basic features and functions” in the Android OS.

According to Reuters, the pair are expected to talk again in the coming weeks, though no firm date has been set. Discussions involving “lower-level officials” of the two companies are thought to be ongoing.