Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Royal decree on low-cut tops

Read more

DEBATE

Ukraine, The Escalation: No Stopping Putin? (part 2)

Read more

DEBATE

Ukraine, The Escalation: No Stopping Putin?

Read more

FOCUS

Bangladesh: Textile workers' lives still at risk?

Read more

TALKING EUROPE

José Bové, Candidate for the EU Commission presidency, Group of the Greens

Read more

WEB NEWS

NYPD's online campaign backfires

Read more

ENCORE!

Celebrating the Bard's birthday in Britain

Read more

THE INTERVIEW

Yuki Tatsumi, Senior Associate of the East Asia Program, Stimson Center

Read more

INSIDE THE AMERICAS

USA: Executions halted over drugs secrecy

Read more

  • Ferry disaster, nuclear test fears cloud Obama’s South Korea trip

    Read more

  • US warns Russia against making ‘expensive mistake’ in Ukraine

    Read more

  • Israel halts Middle East peace talks over Hamas deal

    Read more

  • French policemen accused of raping Canadian woman

    Read more

  • Internet should stay free of government intervention, conference says

    Read more

  • A radio station defends peace and tolerance in CAR

    Read more

  • Echoes of 2pac and Biggie? French rap feud turns violent

    Read more

  • Fresh clashes in Rio over dancer's death

    Read more

  • US would defend Japan in islands dispute, Obama says

    Read more

  • Platini: PSG in danger over Financial Fair Play rules

    Read more

  • Afghan guard kills US doctors in Kabul hospital attack

    Read more

  • Ségolène Royal denies banning cleavage at French ministry

    Read more

  • Video: Mayor in east Ukraine ready ‘to turn Slaviansk into battlefield’

    Read more

  • New far-right mayor moves to quash Paris region mosque

    Read more

  • Millions of Syrians desperately need aid, says UN

    Read more

  • Muslims in CAR pray for an escape route

    Read more

  • Madrid beat Bayern 1-0 in first leg of Champions League semis

    Read more

  • Britain's ex-PM Blair warns against spread of radical Islam

    Read more

  • Turkish PM offers condolences to descendants of Armenians killed in 1915

    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

Comments

COMMENT(S)