Apple is agreeing to pay out $53 million in order to settle a class action brought against the company which claimed that Apple failed to honor warranties on iPhones and iPod Touch devices.

The settlement will reportedly be filed in a San Francisco federal weeks in the coming weeks. Wired broke the story:

According to several lawsuits combined in San Francisco, no matter what the problem, Apple refused to honor warranties if a white indicator tape embedded in the phone near the headphone or charging portals had turned pink or red. However, the tape’s maker, 3M, said humidity, and not water contact, could have caused the color to at least turn pink.

Affected consumers must file a claim to receive a payment, which is expected to be about $200. Devices involved in the suit include the iPhone, iPhone 3G, iPhone 3GS, and the first three generation iPod Touches.