Apple says it bought the global rights to the name iPad Proview Technology of Shenzhen in 2009, but the Chinese government says the right name iPad in China has never transferred. Chinese courts decided in December that the Proview is still entitled to have that name in China and the Chinese company asks the government to seize the iPad.
"IPad dispute resolution expires," said the High Court of Guangdong. "Apple Inc has transferred U.S. $ 60 million to the High Court of Guangdong accounts as requested in the letter of mediation."
China is the second largest market after the U.S. Apple and the source of many of Apple's sales growth.
Proview expect to earn a larger, but was forced to accept at that price because it needed the funds to pay the debt, said a company lawyer, Xie Xianghui. He said the company expects payment of U.S. $ 400 million (Rp 3.7 trillion) and may be threatened with bankruptcy in a separate legal process even if the payment was received. "This is a result that is acceptable to both parties," said Xie.
The dispute centers on whether the Apple iPad name in China acquired when it bought the rights in various countries of Proview affiliates in Taiwan for U.S. $ 55,000 (USD 516 million).
Court ruling in December said the Proview, which registered the brand in China iPad in 2001, is not bound by the sale, although it is part of the same company.
Shenzhen Proview Technology is a subsidiary of LCD screen manufacturer, Proview International Holdings Ltd., headquartered in Hong Kong.
AP | ERWIN Z
