A report shared by Sina (via the Beijing Times) states that Apple offered 100 million yuan ($16 million) for rights to the mark in China but cash-strapped Proview would not agree terms. Proview is thought to be looking for at least $400 million in order to appease its creditors, eight of which are Chinese banks.
Proview creditor Fubon Insurance has already moved to reclaim debts totalling $8.68 million, requesting that the company be put into liquidation. Compensation totalling $400 million would be a long way off the $2 billion lawsuit the company filed in the US earlier this year (originally it asked for ‘millions’), although this was dismissed by US courts in the past week. Proview indicated its interest in settling with Apple as early as February 2012, the same month that company chairman Yang Rongshan warned Apple that it must “properly” compensate the company if it wished to gain legal ownership of the trademark. Apple launched its latest iPad tablet in March, expanding into other markets in the following month. However, the company has not yet launched the device in China, with it believed that Apple is waiting to end the trademark fight before it does.
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