Apple (AAPL) Ends 'iPad' Trademark Battle in China for $60M
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BUY (= Flat)
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Revenue Growth %: +11.2%
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Apple (Nasdaq: AAPL) finally can use one of its most coveted trademarks in China following news surrounding a recent settlement.
According to reports out Monday, Apple and Proview International Holdings agreed to a settlement over the 'iPad' name. Apple will pay $60 million to Proview in the deal.
The agreement prevents a potential blockage of iPad sales in China, which Proview applied for with onset of the litigation.
Prior to the case, Apple said it paid $54,800 in 2009 for use of the iPad name in mainland China. Apple sued Proview in 2010, losing that battle. Terms for the current deal came following a February 29th hearing, which found the two companies in court-sponsored mediation since then.
For Apple, with $110 billion in cash on the books, the settlement is more of a blip than anything else. But, every blip has potential to snowball in scale. With Proview aiming to stop iPad sales in Apple's second-largest market, it might be the best $60 million Apple will spend all year.
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According to reports out Monday, Apple and Proview International Holdings agreed to a settlement over the 'iPad' name. Apple will pay $60 million to Proview in the deal.
The agreement prevents a potential blockage of iPad sales in China, which Proview applied for with onset of the litigation.
Prior to the case, Apple said it paid $54,800 in 2009 for use of the iPad name in mainland China. Apple sued Proview in 2010, losing that battle. Terms for the current deal came following a February 29th hearing, which found the two companies in court-sponsored mediation since then.
For Apple, with $110 billion in cash on the books, the settlement is more of a blip than anything else. But, every blip has potential to snowball in scale. With Proview aiming to stop iPad sales in Apple's second-largest market, it might be the best $60 million Apple will spend all year.
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