Apple pays $60M for iPad name in China; sales to resume
Apple Inc. says it will begin selling its latest iPad starting at $499 and the older iPad 2 starting at $399.
The tablet computers will be sold online, at Apple stores, and through approved resellers.
Apple often brings products to China later than in other countries. The iPad model coming to China this month went on sale in the U.S. and several other countries in March. It features a sharper screen and a faster processing chip than the previous two iPad models.
Apple still dominates the emerging market for tablet computers, though Google and Microsoft are both coming out with competing devices.
The name dispute had threatened iPad sales in China, Apple's second-largest market after the United States and the source of much of its growth.
Apple, which is headquartered in Cupertino, Calif., said it bought the global rights to the iPad name from Shenzhen Proview Technology in 2009, but Chinese authorities said the rights in China were never transferred. A Chinese court ruled in December that Proview still owned the name in China and the company asked Chinese authorities to seize iPads.
To settle the dispute, Apple paid Proview $60 million to gain the rights to the iPad name. The company won approval from Chinese regulators for the device in May.
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