Apple 'settles China iPad trademark dispute for $60m'
08:50 • 02.07.12
Apple has agreed to pay $60m (£38m) to Chinese firm Proview to settle a dispute involving rights to the "iPad" name, a court in China has said.
Proview had claimed that it owned the rights to the iPad name in the Chinese market after registering it in 2000, BBC reports.
However, Apple had insisted that it had acquired the worldwide rights for the name in 2009.
A court in Guangdong had asked the two firms to try to reach a settlement.
"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."
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