A High Court in Guangdong, China, announced that the world’s most valuable company Apple and a computer monitor maker company based in China, Proview International Holdings Ltd., has reached a settlement in the dispute of trademark "iPad." Apple agreed to pay the Chinese company $60 million and will now has the ownership of the name "iPad." iPad is the name for the tablet computer produced by Apple and has been in the market since the early 2010.
Apple wanted to settle this case as soon as possible so they can start selling more mobile and computer devices in China. While at the same time, Proview had been miserable in financial difficulties and have to pay debt. $60 million is small token for the giant as the value of the company has passed over $500 billion. At first, Proview asked Apple to pay as much as $400 million for the trademark; however, both companies’ lawyers have settled for $60 million.
The latest settlement will help Apple to conquer China market. Although since the early 2000s Apple sales relies on buyers from America; however, Apple also wants to expand its global market. As the most populous nation in the world, China could become the most attractive market and will help Apple to grow in the future. As the iPad trademark dispute is now over, it is about time for Apple to fine tune its strategy to reap the China market.
(Image: Apple iPad)