Reuters: Apple has agreed to pay $60 million to Proview Technology (Shenzhen) to settle a disagreement over who owns the rights to the iPad name. Although Apple believed that it had previously purchased the rights to the name from Proview, Proview said that rights did not cover the Chinese market. A Chinese court agreed with Proview, and many Chinese cities ordered retailers to remove iPads from their shelves. The settlement will clear a path for those sales to resume.
IDC analyst Teck-Zhung Wong noted, “The settlement is great news for Apple. It just allows them to get on with business and stop being distracted. The new iPad has been so late to the China market that if they drag it any longer, Apple will stand to lose quite a bit more.”