Proview didn't have much luck taking Apple to court in the US, but the iPad trademark saga looks to have come to an end in China — Apple has reportedly paid Proview $60 million for the rights to use the iPad name. A Chinese court found in Proview's favor last year, resulting in the seizure of iPads and a potential deadlock over sales of the tablet in the country, but the two parties have now agreed to settle. A lawyer for Proview told the AP that the company had hoped for up to $400 million, but that the resulting settlement was "acceptable to both sides."
The Guangdong High People's court released a statement saying "The iPad dispute resolution is ended, Apple Inc. has transferred $60 million to the account of the Guangdong High Court as requested in the mediation letter," according to the AP. Apple now shouldn't face any further obstacles to releasing the new iPad in China, the company's second-largest market.