China has been an important market for Apple, making it as the second largest after the United States in the growth of the Cupertino, California-based firm.

A court made an announcement on Monday that Apple has agreed to settle a dispute against Shenzhen Proview Technology for $60 million just to officially hold the brand “iPad” in China.

The Cupertino, California-based company has difficulties in selling their popular tablet, iPad, in their second largest market because a Chinese company already holds the name ipad since 2001.

Apple had claimed that they already acquired . . . → Read More: Apple Agrees to Pay $60 Million to Chinese Company for “iPad” Rights