We all knew at some point Apple and Proview’s squabbles over who owned the iPad trademark would come down to a bid. Well, there are reports saying that Apple is offering up $16 million (100 million yuan) for the right to use the iPad name in China. Of course, Proview didn’t agree with that number, instead, the cash deprived Chinese-based company wanted more. A lot more. Try $400 million, this according to sources familiar with the negotiations between Apple and Proview.
This large number is believed to cover most of Proview’s debts with its creditors, many of which are Chinese banks. Thing is, this $400 million ransom from Proview Technologies is substantially less than the $2 billion it originally wanted from Apple. That said, this whole thing has come off as copyright trolling, as Apple from day one believes it is already the rightful owner of the iPad trademark. Sparingly, Apple bought the iPad trademark from a Proview sister company back in 2009, and that the company has refused to honor that transaction.
Sadly, the legal fight between Apple and Proview has hurt the consumer, as Chinese customers are still not able to buy an iPad. We’re sure once this dispute is settled, residents of the People’s Republic of China will finally get their hands on 9.7-inch retina goodness.
[via TNW]