There was a lot new things happened in Apple last week, including a phenomenal first quarter financial results. Let us take a look these.
Out-of-court settlement : Proview attorney
As revealed by the attorney, Proview is expecting an out-of-court settlement from Apple on the long drawn trademark issue. Proview and Apple had been locking horns for a long time over the ‘IPAD’ trademark issue and its infringement in mainland China.
Proview always open for off-court settlement: Attorney
A Proview attorney today told reporters that it is likely that Apple may negotiate an out-of-court settlement with the Chinese Tech Firm and now the main issue remains is the price involved. Ma DongXiao, the Proview attorney went on to reiterate that they have always remained open of negotiations and it’s the Tech giant who seems to change their stand. The Chinese firm and the Cupertino Giant have been on the wrong footing since 2009, when Apple floated a third party company and secured the IPAD trademark from Proview. Proview, who were unaware at the time of the Apple’s existence on the backdrop had originally trademarked the ‘IPAD’ back in 2000, insisted that the trademark sell of 2009 did not cover the rights of mainland China. Apple, having lost the initial court case, appealed against the verdict on the ground of ‘suppression of facts’—the hearing of this latest lawsuit is due since February.
Tottering Proview trying to squeeze out: Apple
Apple has been publicly accusing Proview, trying to squeeze out a hefty sum from the Tech giant. Well, going by the present financial condition of Proview, this seems to be a well thought out business plan. A vibrant LCD manufacturer back in early 2000’s Proview’s business has run into rough waters in recent years. Faulty execution in business expansion coupled with 2008 financial crisis affected the health of Proview badly ultimately leading to its filing for bankruptcy protection. Apple has been telling people that Proview is trying repay its debts by milking Apple over the trademark issue—something for which they had already paid US $55,000 back in 2009.
Out of the court settlement does not deter Apple from going ahead with its preparation for the launching the iPhone 5 – speculated to be the thinnest iPhone ever.