Apple Bids $16 Million While Proview Asking Price Of At Least $63 Million For Chinese iPad Trademark

Posted on May 10 2012 - 8:40am by Editorial Staff

Apple bid to settle the long-running iPad Trademark legal battle in China with Proview finally got the settlement price tag: Apple offered 100 million yuan ($16 million) for rights to the mark in China but Proview demanding at least 400 million yuan ($63 million) in order to appease its creditors, eight of which are Chinese banks, report shared by Sina (via the Beijing Times).

Apple recently appears to be willing to entering into negotiations and submitting a compensation package for the mark with Proview. And, with this we expected that the company is a step nearer with Proview to crack the deal.  Back in April, Chinese official stated that the iPad trademark belongs to Proview.

About the Author
Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.