Proview says it holds the trademark for the name of a device called an Internet Personal Access Device, or IPAD. The device looks like a desktop computer. Proview says it sold about twenty thousand of them over about ten years. It says it received the trademark or legal rights to the name in two thousand one.
An advertisement for Proview's “IPAD” shows that it looks like Apple’s iMac.
Proview is in financial trouble. It has reported losses since two thousand eight and cut thousands of workers. Apple's legal team says that Proview is nearing financial failure. They say it has no product, no buyers or suppliers.
Apple argues a ruling against it would harm the interests of buyers in China. Apple’s holds seventy-six percent of the tablet computer market in the country with its iPad.
A final decision by the high court in Guangdong is expected to take weeks.
Still, at least for now, the legal battle has not hurt Apple’s stock price. The technology company has the most valuable publicly traded stock in the world, with a total value of about five hundred billion dollars.
And that's the VOA Special English Economics Report. To read and hear more economics news for people learning English, and for transcripts, MP3s and now PDFs of our programs for e-readers, go to voaspecialenglish. And follow us on Facebook, YouTube and iTunes. I'm June Simms.
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