Apple and Proview have finally reached an agreement for the long disputed iPad trademark, with Apple agreeing to pay China’s Proview a whopping $60 million for the name of their popular iPad tablet!
The $60 million dollar agreement is said to have been signed on 25th June, but news of the settlement has only just managed to make it to the media.
Proview, who are in receivership with a number of Chinese banks used to be one of the largest computer display makers in China. The problem between the once giant screen maker and Apple sprang up after Proview claimed that they still owned the iPad trademark, while Apple insisted that they bought the iPad name from a sister company of Proview’s.
Proview actually did produce a computer called the iPad which was actually an all in one early iMac clone!