Apple Settles China iPad Trademark Dispute For $60 million

Apple Inc has paid $60 million toProview Technology (Shenzhen) to the iPad trademark dispute in China that saw the world’s most valuable technology company engaged in a protracted legal tussle with a near-bankrupt Chinese firm.

The announcement of the court-mediated settlement was made on the web site of the Higher People’s Court of Guangdong province.

Apple and Proview Technology (Shenzhen), a unit of Hong Kong-listed Proview International Holdings Ltd, have been negotiating to reach a settlement since the Higher People’s Court of Guangdong in February conducted a crucial hearing on the case.

The lawsuit had hampered some sales and delayed the launch of the new iPad in China. Prior to the launch, Proview requested Chinese authorities in scores of Chinese cities to order re-sellers to take all iPads off their shelves.

Apple is experiencing heady growth in Greater China – China, Hong Kong and Taiwan – with second-quarter sales in the region increasing several fold to $7.9 billion.

Team TechPanda

Recent Posts

Geek Appeal: New gadgets & apps on the block

The Tech Panda takes a look at recently launched gadgets & apps in the market.…

8 hours ago

Funding alert: Tech startups that raked in moolah this month

The Tech Panda takes a look at recent funding events in the tech ecosystem, seeking…

10 hours ago

AI Launches: Fintech, SaaS, customer service, EdTech, hospitality, cleantech, consulting, graphics & skilling

The Tech Panda takes a look at recent launches in the superfast field of Artificial…

1 day ago

India’s Nari Shakti moment: Women’s workforce participation doubles as industry backs return-to-work initiatives

India is witnessing a historic surge in women’s participation in the workforce. According to Ministry…

1 day ago

Once more with feeling: An ambitious bid to build a digital Disneyland for fans

This entrepreneur, who entered the startup ecosystem when he was only thirteen years old, wants…

1 week ago