Complex Made Simple

Apple spends $60m to keep iPad name in China

A Chinese court has said Apple has paid $60m to settle a dispute with Proview Technology in the country over ownership of the iPad name, removing a potential obstacle to sales of the popular tablet computer in the key Chinese market, the Associated Press has reported. Apple said it bought the global rights to the iPad name from Proview in 2009, but Chinese authorities said the rights in China were never transferred. A Chinese court ruled in December that Proview still owned the name in the country. Proview, which is struggling financially, asked Chinese authorities to seize iPads in an apparent effort to pressure Apple to settle. China is Apple's second-largest market after the US and the source of much of the company's sales growth.