A Chinese court says Apple has paid $60 million to a company in the southern city of Shenzhen to resolve a trademark dispute over the use of the iPad name in China.
The court said in a statement Monday that Apple and Proview Technology reached the settlement after mediation.
The deal comes after a lengthy court battle and attempts by Proview to block Apple from selling its popular iPad tablet in parts of China.
The iPad dominates the tablet market with a 76 percent market share in China.
Proview's Taiwanese subsidiary registered the trademark more than a decade ago, long before Apple debuted the iPad. Apple purchased the rights from Proview in 2009, but Proview said Apple failed to register the trademark in mainland China.