The tussle had seen the world's most valuable technology company engaged in a protracted legal battle with the near-bankrupt Chinese firm.
The lawsuit had hampered some sales and delayed the launch of the new iPad in China. Prior to the launch, Proview requested Chinese authorities in scores of Chinese cities to order re-sellers to take all iPads off their shelves.
The court-mediated settlement, announced on the website of the Higher People's Court of Guangdong province, will allow Apple to get on with selling its popular tablet PC in one of its most important markets, analysts said.
"The settlement is great news for Apple. It just allows them to get on with business and stop being distracted. The new iPad has been so late to the China market that if they drag it any longer, Apple will stand to lose quite a bit more," said Teck-Zhung Wong, a Beijing-based analyst with technology research firm IDC.
Apple and Proview Technology (Shenzhen), a unit of Hong Kong-listed Proview International Holdings Ltd, have been negotiating to reach a settlement since the court conducted an initial hearing in February, after Apple appealed a lower court ruling against it.
Sourced: http://www.telegraph.co.uk/technology/apple/9369368/Apple-pays-60m-for-iPad-trademark-in-China.html
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