Apple Inc loses the Chinese market dispute against Proview

Apple Inc loses the Chinese market dispute against Proview

Apple Inc. (NASDAQ:AAPL) was up 1.23% after the Company settled its iPad trademark dispute with Proview for a cost price of USD 60 million.

The dispute was over Apple’s use of iPad trademark in China where Proview had years earlier registered trademark rights for its product iPad which is now a discontinued product. Proview had disputed that it still owned the trademark rights to its discontinued product iPad.

Apple Inc on the other hand had argued that it had in 2009 bought a part of the trademark rights from Proview and that it had all the rights to sell its ipads in China. But, the Chinese court had given the hearing in favor of Proview and charged Apple USD 60 million.

The Company however got hands up from a Californian judge in a case involving Samsung’s galaxy tab Nexus over features patents. Samsung has been ordered to to put a stop to the import and sale of Nexus in US on Apple’s appeal. Samsung was infringing its bevy of patents, including technology for searching multiple databases; a function found in Apple’s ‘Siri’ voice-automated assistant program used on the iPhone 4S.

Shares of Apple Inc. (NASDAQ:AAPL) was trading at $591.08; up 1.21% on a volume of 11.39 million shares while the shares are down 4.4% in the last three trading months.