Apple settles iPad name dispute with Proview for $60 million

Apple has paid US$60 million to Proview Technology to end a dispute over the iPad trademark in China, reports “Reuters” (http://macte.ch/8Jvhq).

The court-mediated settlement, announced on the website of the Higher People’s Court of Guangdong province, will allow Apple to get on with selling the iPad in one of its most important markets, analysts told “Reuters.” Reportedly, the cash-strapped Proview had been holding out for at least $400 million.

In February Proview accused Apple of “deception” in the way it acquired rights to the iPad name. In Californian court filings, Proview claimed Apple created a UK-registered “special purpose company,” IP Application Development Ltd (IPADL).