Apple has now agreed to pay $60 million to a Chinese Company Shenzhen Proview Technology for using name “iPad.”
The announcement of the court-mediated settlement was made on the web site of the Higher People’s Court of Guangdong province.
In 2009, Apple has bought the rights for iPad name from Proview affiliate in Taiwan. But China was not under that deal. So Proview still owns ‘iPad’ name in China. So, Proview requested Chinese authorities in scores of Chinese cities to order re-sellers to take all iPads off their shelves.
Proview had hoped to get as much as $400 million from Apple, but it agreed to settle for $60 million in order to pay its debts.
And finally, the iPad dispute is ended. according to reports, Apple has already transferred money to the court.
Apple sees good growth in china where iPad dominates tablet PC market with a more than 70 percent market share. This dispute was creating problem for new ipad. Now everything is fine.
