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http://pddnet.com/news-ap-china-court-apple-pays-60m-to-settle-
China Court: Apple Pays $60M to Settle iPad Case
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.
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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.
China Court: Apple Pays $60M to Settle iPad Case
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.
ADVERTISEMENT
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.
