Apple pays $ 60 million to use the name iPhone in China

Proview Technology claims to have the right to the name in the country.
Since 2009, the company sold computer that was called IPAD.

Apple agreed to pay $ 60 million to end a dispute and have the right to use the name iPhone in China, announced a Chinese court, which closes a legal conflict of several years of American business in one of its major markets.

The company Proview Technology, which by 2009 had sold a computer with the name "IPAD", denounced the Apple in various Chinese courts on the grounds that it had rights to use the brand in China and tried to ban the sale of the iPhone in the country.

After an agreement reached on June 25 between the two companies, Apple paid $ 60 million and last week asked the court of the city of Shenzhen (southern China) to apply the decision.

On Monday (07/02/2012), the court sent the Shenzhen branch of Chinese industry and commerce the decision to transfer the mark to Apple iPad, which means that the Proview Technology will no longer have the right to use the name.