Monday, July 2, 2012

Apple Has A Loss of Its Own, $60 Million to be Exact

Karma after suing all those other companies? Not really after an almost one year dispute with a company called Shenzen Proview after having a dispute in China due to the iPad trademark, Turns out Shenzen already had all rights to it and this time Apple was the one losing money instead of gaining some. The IPAD or Internet Personal Access Device was already trademarked in China and by Apple using the name iPad they were going to court. The original amount Apple was supposed to pay was around $400 million, but the two companies have settled for only $60 million. A substantially lower amount no doubt China was wanting to put this dispute behind fast due to their position and relationship with Apple.

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