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The dispute between Apple Inc and Proview Technology over iPad trademark in China has finally come to an end with the former agreeing to pay $60 million to the latter so that it continues to use iPad name for its tablet in the country.

The Guangdong High People's Court has announced that iPad dispute in China has been solved with Apple Inc having transferred $60m to the account of the Guangdong High Court.

Apple got into trouble after Proview, a struggling Chinese electronics company, claimed that it held IPAD trademark for its deskstop computer.

Apple had argued that it had bought iPad trademark in various countries from Proview but a Chinese court ruled in December that Proview Technology (Shenzhen) still owned the name in the country. The Chisese authorities also banned the sales of iPad in some cities following the ruling.

However, analysts are of the opinion that the settlement is a big breakthrough for Apple as it can now earn big selling its iPad in China. The lawsuit delayed the launch iPad in the country, and thus hampered its sales.

"The settlement is great news for Apple. It just allows them to get on with business and stop being distracted. The new iPad has been so late to the China market that if they drag it any longer, Apple will stand to lose quite a bit more," Teck-Zhung Wong, a Beijing-based analyst with technology research firm IDC, told Reuters.

Many feel that Proview should welcome the settlement.

"The settlement fee is not bad for Proview, because although Proview owns the trademark, it was Apple, not Proview, who created the brand's value," said Chen Jihong, a Beijing-based intellectual property rights lawyer at Zhong Lun Law Firm, told Reuters.

"This is a transaction. Apple is spending $60 million to buy the trademark," added Ma Dongxiao, a lawyer representing Proview.