As a loyal Macro reader, you no doubt recall my blog post last week about Apple's legal troubles in China surrounding the use of the name iPad.
And if you don't here's the recap:
According to Apple Insider:
"In 2006, Apple purchased the iPad trademark from display manufacturer Proview Electronics (Taiwan) for $55,000 by way of a front company called IP Application Development," the website writes.
"However, the company claims that the deal did not include the rights to the trademark in China, as those were owned by Proview Technology (Shenzhen), a subsidiary of Proview International in Hong Kong," Apple Insider adds.
The Chinese company reportedly sued Apple last year in China. Believing that it is the rightful owner of the trademark, Apple countersued, lost, and has appealed.
So that's where we stand.
Here's how China Daily explains the reasoning:
"Some retailers have removed the iPad tablets to back storerooms, fearing that local Administration of Industry and Commerce will confiscate them."
"An inspection squad of the Xinhua District's Administration of Industry and Commerce in Shijiazhuang city, launched a campaign to crack down the sale of the tablets on Feb 9 after receiving Proview Technology (Shenzhen)'s complaint. A total of 45 iPad tablets were confiscated by the authority in the district over two days," the China Daily adds.
Meanwhile Apple's fortunes continue to rise on Wall Street, at least.
The company's share price topped $500 Monday for the first time on continued optimism about the company's iPad 3, which is expected to launch next month.
And, yes, Apple is still planning to use the iPad name.
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