4th July 2012
Apple had paid 60 million dollar to Chinese computer maker Shenzhen Proview Technology on 2 July 2012 to settle legal dispute over iPad trademaker. The dispute was that Proview claimed the ownership of iPad trademark whereas Apple contradicted that it had bought the trademaker earlier.
Proview demanded 400 billion dollar to settle the dispute, but Apple had paid 60 million dollar and 55 million dollar earlier. The total amount was not given to Proview inspite of that it had settled the dispute because it has to pay debts. The settlement was signed by the Communist Party of China outside the court in between Proview and Apple. The settlement was later announced in the court. The Apple transferred the amount of 60 million dollar to the Guangdong High Court account which was requested in mediation letter.
After US, Apple’s biggest market is in China. After the settlement, Apple is free to sell the new iPad 3 in China. Apple Tablets are already approved by China telecommunications equipment certification agency in May 2012. Apple's products are made in China-based factories which are run by Taiwanese firm Foxconn.
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