Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Candidates Goodluck Jonathan and Mohamudu Buhari call for calm

Read more

MEDIAWATCH

Anger at mental health stigmatisation after crash allegations

Read more

THE WORLD THIS WEEK

Yemen, the Escalation; France's Three Way Race; Clarkson Shown the Exit (part 2)

Read more

THE WORLD THIS WEEK

Germanwings Crash; Co-pilot 'hid illness' on crash day (part 1)

Read more

#THE 51%

The extraordinary tale of the Egyptian mother who lived as a man

Read more

REPORTERS

Video: San Cristobal, Venezuela's tinderbox

Read more

FRANCE IN FOCUS

France's chronic umemployment problem

Read more

FOCUS

Portugal: Anger at corruption scandals, one year after bailout

Read more

YOU ARE HERE

Bistronomy: Stylish and simple eating

Read more

Asia-pacific

Apple settles for $60 million in China iPad dispute

Text by News Wires

Latest update : 2012-07-02

Apple will finally be able to sell its popular iPad tablet on the lucrative Chinese market, after settling a dispute with a Chinese company for $60 million (47 million euros) on Monday over ownership to the iPad name.

AP - Apple has agreed to pay a Chinese company $60 million to settle a dispute over ownership of the iPad name, a court announced Monday, removing a potential obstacle to sales of the popular tablet computer in the key Chinese market.

Apple Inc. says it bought the global rights to the iPad name from Shenzhen Proview Technology in 2009 but Chinese authorities say the rights in China were never transferred. A Chinese court ruled in December that Proview still owned the name in China and the company asked Chinese authorities to seize iPads.

“The iPad dispute resolution is ended,” the Guangdong High People's Court said in a statement. “Apple Inc. has transferred $60 million to the account of the Guangdong High Court as requested in the mediation letter.”

China is Apple's second-largest market after the United States and the source of much of the Cupertino, California-based company's sales growth. Proview hoped for more money but felt pressure to settle because it needs to pay debts, said a lawyer for the company, Xie Xianghui.

He said the company had hoped for as much as $400 million and might still be declared bankrupt in a separate legal proceeding despite the infusion of settlement money.

“This is a result that is acceptable to both sides,” Xie said.

The dispute centered on whether Apple acquired the iPad name in China when it bought rights in various countries from a Proview affiliate in Taiwan for 35,000 British pounds ($55,000).

The December court ruling said Proview, which registered the iPad trademark in China in 2001, was not bound by that sale, even though it was part of the same company. Shenzhen Proview Technology is a subsidiary of LCD screen maker Proview International Holdings Ltd., headquartered in Hong Kong.

 

Date created : 2012-07-02

  • TECHNOLOGY

    US bans sale of Samsung 'Galaxy Tab' in Apple victory

    Read more

  • TECHNOLOGY

    Fans swarm Apple stores as new iPad released

    Read more

  • CHINA

    Apple to improve work conditions in Chinese factories after report

    Read more

COMMENT(S)