Apple Pays $60 Million to Settle iPad Trademark Case

Posted July 2nd, 2012 at 12:25 am (UTC-5)
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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.