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Fri, Jun 29 2012 Pictures Reuters Photojournalism Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more Raging wildfires Raging fires strike Colorado and Utah. Slideshow Hong Kong: 15 years A look at the last 15 years since Hong Kong's handover back to China. Slideshow Apple pays $60 million to settle China iPad trademark dispute Tweet Share this Email Print Related News Apple scores second legal win vs Samsung in a week Fri, Jun 29 2012 Top court upholds healthcare law in Obama triumph Thu, Jun 28 2012 United Technologies sent military copter tech to China Thu, Jun 28 2012 Judge blocks Apple in Google smartphone war Sat, Jun 23 2012 U.S. court rules against FCC in TV profanity, nudity cases Thu, Jun 21 2012 Analysis & Opinion NY appeals court gives big boost to BofA in MBS put-back suits iPhone anniversary marks triumph over crisis Related Topics Tech » Media » China » iPad » 1 of 4. A woman stands near an Apple billboard advertising the iPad 2 in downtown Shanghai in this March 1, 2012 file photograph. Credit: Reuters/Carlos Barria/Files By Melanie Lee and Samuel Shen SHANGHAI | Mon Jul 2, 2012 3:05am EDT SHANGHAI (Reuters) - Apple Inc has paid $60 million to Proview Technology (Shenzhen) to end a dispute over the iPad trademark in China that saw the world's most valuable technology company engaged in a protracted legal tussle with a 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. Apple had said it bought ownership of the iPad trademark in various countries from Proview, once a global monitor maker, but the Chinese company argued the U.S. firm dealt with only one unit of Proview. A Chinese court ruled that Proview Technology (Shenzhen) owned the name in China. Proview, which registered the iPad trademark in China in 2001, tried in May to sue Apple in the United States, but that case was thrown out. An Apple spokeswoman declined to comment on Monday. The iPad dominates China's tablet PC market with more than 70 percent market share, though Lenovo Group Ltd's Lepads and Samsung Electronics Co Ltd's Galaxy Tabs have been gaining traction. Apple is experiencing heady growth in Greater China - China, Hong Kong and Taiwan - with second-quarter sales in the region increasing several-fold to $7.9 billion. From the launch of the iPad in the third quarter of 2010 to March this year, Apple shipped more than 6 million iPads to mainland China, according to IDC. For Proview - which local media had said was seeking as much as 10 billion yuan ($1.57 billion) from Apple - and its creditors, the settlement should be welcomed, some lawyers said. The $60 million will be paid into a court-designated account and used to pay Proview's creditors, said a source familiar with the situation. In March, Taiwan's Fubon Insurance, one of several Proview creditors and a unit of Fubon Financial Holding Co Ltd, applied for bankruptcy proceedings against Proview because of $8.68 million in outstanding debt. "The settlement fee is not bad for Proview, because although Proview owns the trademark, it was Apple, not Proview, who created the brand's value," said Chen Jihong, a Beijing-based intellectual property rights lawyer at Zhong Lun Law Firm. ($1 = 6.3541 Chinese yuan) (Writing by Kazunori Takada; Editing by Jason Subler and Ian Geoghegan) Tech Media China iPad Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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