Apple's tenacious battle with China-based Proview over the last year over the iPad trademark in the country is finally settled. Apple has agreed to pay the company that owns the mark in China $60 million. Although Apple has said that Proview already licensed the use of the trademark in the region, Proview managed to win a number of major legal victories in the region that put Apple on defense.
"Personally I am happy to see the settlement by the Guangdong high court," Proview's attorney Ma Dongxiao said. "As we all know that Apple has made iPad such a big name, I don't think that brand could do Proview a lot of good even if Proview won it. So this is a good solution for both sides."
According to Proview's lawyer, the settlement was the result of mediation between the two companies.
While the public reaction to the settlement are mixed among Chinese citizens (some think Apple was bullied into settling because they had already paid Proview's Taiwanese subsidiary for the rights in the region) the upside for Apple is that it can now release its latest iPad in the region. China is a huge market and Apple certainly wants to leverage it to the best of its ability.
Source: Ars Technica