Apple (IW 500/14) has paid $60 million to end a dispute over who could use the iPad name in China, a court said Monday, giving the U.S. tech giant more certainty in selling its tablet computer in the Chinese market.
Apple paid the sum last week to settle its long-running legal battle with Chinese computer maker Shenzhen Proview Technology, the High Court of the southern province of Guangdong said in a statement.
"This means that the dispute between Apple and Shenzhen Proview over the rights to the iPad brand is resolved in a satisfactory manner," said the statement posted on the court's website.
The amount paid by Apple was well below the $400 million demanded by the Chinese firm.
Falling well below the $400 million settlement demanded by Proview, the deal ends the long-running legal battle and frees Apple to move into the Chinese market.
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