Apple's iPad Dispute With Proview In China Setteled At 60 Million
Associated press of China reports that Apple has agreed and settled iPad name dispute with Proview for 60 Million. Earlier before iPad, Apple had purchased the iPad name from Proview under Shell company. However, the name 'iPad' was never officially granted to Apple to be used in China. Finally both the parties have mutually agreed that Apple would pay 60 million to Proview for using the brand name iPad in China although the amount seems quite huge compared to the rumored amount of 16 million.
If Apple were to lose the right over using the name iPad for branding, marketing and sales of iPad then the cost of marketing and promoting a new name would cost Apple much more than 60 million so it seems like an opportunity cost for Apple to let go some amount to avoid big loss.
With the dispute finally settled, we can expect Apple to begin its iPad sales in China at large. With the new iOS6 and Apple's decision to add baidu as default search engine for Chinese devices, it is very clear that Apple is very interested in the Chinese market and will be investing more in the country which assemblies world's best smartphones and tablets.