Apple’s problems with the iPad brand in China seem to be finally resolved. Since its product was launched, the American company fights in court for the right to use the name, which in the country belongs to the Chinese Proview Technology. But on Monday morning the company decided to end the fighting and pay Proview’s asking for the brand: $60 million.
Apple said that the purchase of the name was only made to end the fights with Proview and finally put its iPad on the shelves of the entire country, since so far the tablet was only sold in some Chinese networks. The amount paid was much higher than expected by Apple, which previously offered $ 16 million – an amount not accepted by the Chinese company.
As China’s market is one of the most important for any technology company, the apple company has decided to accept the high asking value to ensure that its product is sold freely throughout the country.
Proview used the iPad name on a computer it manufactured until 2009, but as the brand was registered, Apple could not use the same name in the Asian country. The apple company had already bought the brand in other countries that sold the product of the Asian manufacturer, but none of it worked as much as China. The agreement took place on June 25, but only on Monday the Chinese court officially made the purchase.