Hong Kong company sues Apple to get out of money troubles

In a standard move to get out financial trouble a Hong Kong monitor manufacturer decided to sue Apple over alleged patents infringement. As reported by The People’s Daily, Proview International registered the iPad trademark outside of China in 2000. One division of the company, Proview Taipei, failed in its attempt to market an iPad computer, and sold the rights to the trademark to Apple.

Meantime, another Proview division, Proview Technology of Shenzhen, China, applied to register two iPad trademarks in China. Proview Technology claims it holds the rights to the iPad trademark in that country.

Thus, now Apple is sued for 10 billion yuan ($1.5bn, £950m) for damages related to trademark infringement. It should be noted that the company has a market capitalization of $20m, net assets of negative $235m, and a net loss in its last fiscal year of $375m, according to the most recent figures supplied by the Hong Kong Exchange.