Apple has paid $60m for Proview Technology in Shenzhen to settle a dispute over which company owns the iPad trademark in China.
The Higher People's Court of Guangdong reported that Apple will be able to use the iPad trademark in China having paid $60m to the near bankrupt Proview on Monday.
"The iPad dispute resolution is ended," the Guangdong High People's Court said in a statement [Chinese language].
"Apple has transferred $60m to the account of the Guangdong High Court as requested in the mediation letter."
At the time of publishing, Apple had not responded to V3's request for comment on the purchase.
The legal battle between the two companies began when Proview sued Apple, claiming that it owned the rights to the iPad name in the Chinese market. Proview later escalated the legal battle requesting Chinese authorities order resellers to take all iPads off their shelves just before Apple launched its new tablet in March.
The settlement follows news that Italian regulators have accused Apple of failing to comply with the Competition and Market Guarantor Authority's (AGCM) anti-trust requests.
The AGCM had previously fined Apple €900,000 for failing to meet the country's requirements to offer free two-year product guarantees.
"The anti-trust [authority] has opened a procedure of non-compliance against Apple, complaining about two unlawful practices," Reuters reported an unnamed source within the AGCM as saying.
"If they do not comply, they risk fines for up to €300,000."
At the time of publishing, the AGCM had not responded to V3's request for comment.
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