A lawsuit between tech giant Apple and Chinese firm Proview has finally been settled with Apple paying out $60m.
The case was launched against Apple as Proview owned the rights to the iPad name in China, which it had purchased in 2000. Apple disputed the claim as they purchased the worldwide rights to the name in 2009 from Proview’s affiliate in Taiwan. Proview insisted the affiliate did not own the Chinese market rights and this resulted in the iPad being pulled from some parts of China.
As China is one of the fastest growing markets for Apple it would be a sensible move to get this straightened out so they don’t lose market share whilst the case goes through the courts.
A court in Guangdong asked the two firms to reach a settlement and it appears now after mediation the matter has been sorted with Apple handing over $60m to smooth things over.
Another claim from Proview was lodged against Apple in the USA as the firm believed Apple had misled them into selling them the name by setting up a company in the UK with an abbreviated iPad name, this case was dropped.
With this latest agreement this should see the arguments over the rights to the iPad finished as a statement from the lawyer handling the case on behalf of Proview stated “The case is settled, both sides are satisfied with the agreement”.
$60m is hardly a big deal for Apple but at least they have one less court case to contend with as they rumble on with their battles with Samsung.