Apple settles with Proview over iPad trademark in China
Apple may have managed to sell upwards of 12 million new iPads in the second quarter alone, but that has been without help from the People's Republic of China due to ongoing lawsuits. However, it now looks like the device will be finally making its way to Shanghai, thanks to a settlement that’s been reached over naming rights in the country.
Back in 2009, Apple purchased the iPad trademark from Taiwanese company Proview for $55,000 ahead of the first iPad’s launch. However, a year later, the company filed suit against Apple, claiming that the naming rights in China were not included in the original deal and that they were owed $1.6 billion in damages.
Thankfully, the dispute appears to have been finally resolved, as the Guangdong High People’s Court announced that “the iPad dispute resolution is ended” with Apple agreeing to pay Proview a total of $60 million. While the amount is only a fraction of the company’s original demands, Proview is in debt for more than $180 million and they may have been pressured into settling.
Apple could have easily kept this case in the courts for a longer time, but the lawsuit has prevented the release of the new iPad in China and thus Cupertino had an arguably bigger incentive to settle. Sadly, there is still no word as to when the tablet will make its official debut, although there’s no doubt that the Apple's 2nd biggest market will be able to cover the $60 million settlement and much much more.