How Apple acquired the iPad name in China from Shenzhen Proview Technology?
Apple Inc. (AAPL) has agreed to pay $60 million to a Chinese Proview Technology (Shenzhen), held the “IPAD” trademark for a desktop computer, in order to continue using the iPad name for its popular tablet computer in China.
Apple has yet to announce a China (Apple’s second-largest market after the USA) release date for the iPad 3 and accounts for about 20 percent of Apple’s overall revenue. Interesting to know that, all of Apple’s iPads are made in China by Foxconn Technologies Group, which employs more than 1 million people in sprawling factories.
“All parties involved have agreed on the settlement. Proview and Apple now no longer have a dispute over the iPad trademark.” Although the news just broke, the settlement was apparently agreed to nearly a week ago on June 25,” Xie Xianghui, a lawyer for Proview, told China’s Xinhua news.
- Proview Technology registered the iPad name in 2000, ten years before Apple’s iPad was released.
- Proview demanded US$1.6 billion from Apple, a figure that company flat-out refused to pay.
- The Proview Technology also tried to launch a legal fight with Apple in the United States.
- Fubon Insurance was planning to get some $8.68 million it was owed from Proview Technology (Shenzhen) by liquidating company assets.
- In April 2012, a Chinese government said that Proview Technology was still the owner of the iPad brand name.
DON’T MISS: Hit List
- iPad3 its futuristic speculation and tons of unconfirmed rumors
Apple-watchers and addicts like me across the world can expect the new iPad3 to come out in about 2 months based on new Apple Rumors, its futuristic speculation and tons of unconfirmed rumors. Based o…
- Tim Cook mastered Steve Jobs skill at promising big things while revealing little
Despite the transition from Steve Jobs to Tim Cook Apple’s business is stronger than ever. Looks like, Tim Cook mastered Steve Jobs skill at promising big things while revealing as little.
In a wide-…
- What Apple blogs were excited about during the week of May 6 – 12 – Apple Rumors?
Let’s take a look at what Apple (AAPL) blogs were excited about during the week of May 6 – 12 – Apple Rumors; Foxconn CEO Terry Gao says the new Apple TV will be called the iTV, and production will be…
- What do you think Apple is planning for this mysterious event?
What do you think Technology giant Apple (NASDAQ: AAPL) is planning for this mysterious event? Kara Swisher of All Things Digital broke the news that Apple “Apple is planning an important — but not la…
- Apple unconfirmed rumors, iPhone 5 might get a larger 4-inch screen?
Here i have gathered together all the latest Apple unconfirmed rumors from last week– some of them even coming from more or less reputable sources— you might be able to trust!
iPhone 5 to have a …
A journalist, author and serial entrepreneur- Founder and CEO of CEOWORLD Magazine and Lucentbyte Media Technologies LTD. (firstname.lastname@example.org)