Apple iPad 3 to be Banned in China?
Apple, Inc.'s (NYSE:AAPL) latest tablet could face customs ban from Chinese authorities after a local firm filed for trademark dispute in the country to stop the exportation and importation of the said device.
Proview is a local display distributor that requested for the Chinese authorities to stop the shipments of Apple's next iPad. The lawyer of the company Ma Dongxiao refused to disclose the details of the said complaint. "We feel that Apple is infringing on the iPad trademark," he just said.
The Cupertino-based company and Proview were engaged in a patent battle to determine which company owns the iPad trademark. China is a major market for Apple and houses many of the manufacturing companies that build the Apple's products.
Intellectual lawyer and professor from Beijing's Central University of Finance and Economics Stan Abrams said that the custom ban can stop the importation of the device but most likely have a least effect on the exports. Applecan say that they have the right to manufacture some of the parts in China.
Apple explained and has appealed the December court ruling. Apple claims the company bought the iPad trademark from Proview's subsidiary in Taiwan. Although it is still unclear how authorities will proceed, Abrams said Proview is pressuring Apple to settle and buy the iPad trademark. But Proview, which has filed for bankruptcy, could be asking for a sum Apple believes is too high and unwilling to pay.
Despite the looming lose of one of Apple's major markets, the company's price of share increased greatly and crossed the US$500 per share mark. This increase is attributed to the great company performance from the last quarter and the eminent release of the two highly anticipated Apple products, iPad 3 and iPhone 5.
According to the rumors unconfirmed by Apple, iPad 3 will be released on first week of March and iPhone 5 may be released in June. Analysts are confident that the company will continue to increase the price of its share until the end of the year.