Apple has settled its long-running courtroom battle with Proview Technologies in China by handing over $60 million, according to court briefings issued this week.
The case concerned the use of the iPad brand name in China, which Proview technologies was claiming ownership to and demanding damages from Apple. The Cupertino company on the other hand claimed that the iPad name was officially purchased and made their own a number of years ago, therefore initially refused to comply with Proview’s requests.
However, the courts in China seemed likely to favor the arguments of Proview all along, as the patent acquisition application made by Apple was never recognized outside of China. As such, Proview is to receive $60 million from Apple and bring to an end what could have been a potentially damaging legal tussle.
iPad Sales Green-Lighted Across China
Upon the closing of the case, Apple will once again be able to retail its iPad range across China – known to be the fastest growing and one of the most lucrative markets in the world today. Had Apple been forced to withdraw all iPads for sale across the region, the resulting loss of sales would have been catastrophic – further compounded by damage to company reputation.
It had been suggested from the very beginning of the case that Proview was somewhat grasping at straws with the case, having already been facing massive debt for several years. However, the company remains adamant that the case was fair and just, with some analysts now suggesting that the $60 million payoff represents nothing more than a drop in the well of Proviews ongoing financial problems.
Rumor has it that Proview owes Chinese banks in excess of $400 million among other debts.
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