LCD screen maker Proview Technology (Shenzhen) Co Ltd has finally settled a long-running trademark infringement lawsuit against Apple for $US60 million.
In the case, Proview claimed that when Apple purchased the rights to the name "iPad" in 10 countries from its Taiwanese subsidiary, it didn't purchase the rights for mainland China.
Proview's case was bolstered by a Shenzhen court ruling late last year that Proview continued to own the iPad trademark in mainland China.
Proview won a major victory in February, when the Intermediate People's Court of Huizhou, in the southern Chinese province of Guangdong, ordered retailers to pull iPads from store shelves.
According to the Associated Press, Apple finally settled the long-running dispute during mediation through the Guangdong High People's Court for $US60 million, which was far less than the $US400 million sought during mediation by Proview.
The settlement paves the way for Apple to finally release its latest 4G iPad in China, which has become the company's second largest market.