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Elsha

07-01-2012 10:49 PM

Apple, Proview said to settle iPad fight for $60M

Apple Inc. AAPL +2.63% and Proview Technology (Shenzhen) have reached a settlement in their dispute over the iPad trademark, a lawyer for Proview said Monday.

Proview lawyer Ma Dongxiao said that according to the settlement, reached via mediation, Apple will pay US$60 million to Proview in exchange for the right to use the iPad trademark in China.

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