Apple released its newest iPad in China on Friday after settling a lawsuit over ownership of its name and requiring buyers to place advance orders.
Apple will be paying Chinese firm Proview Technology $60M to settle its dispute involving the trademark name iPad.
A government official’s statement that Proview Technology rightfully owns the iPad trademark could add to pressure on Apple to find a solution to the standoff.
A Chinese court is mediating between Apple and Proview Technologies, which claims it still owns the iPad trademark in China.
Apple says that Proview Electronics’ claim of still owning the iPad trademark is misleading and unfair.
The iPad trademark dispute highlights the rising stakes of the trademark name game in the increasingly lucrative China consumer market, which most global companies cannot afford to miss out on regardless of the risks.
Proview, which is challenging Apple for the iPad brand ownership, is facing the prospect of bankruptcy, being $8.68 billion in debt from a Taiwan company.
A Chinese court has begun hearing Apple’s appeal of a ruling against its right to use the iPad trademark in China.
The battle between an ailing Chinese electronics maker and Apple Inc. over the iPad name is just as much a tale of obsolescence in the fast-moving global technology industry as it is a legal row over a trademark.