Beijing company Hanwang Technology has transferred ownership of its "i-phone" trademark to Apple.
The news was disclosed on Monday by PC World, a technology news website based in the United States, which reported that Apple had resolved its iPhone trademark conflict in China.
The website said an official at Hanwang had confirmed that the company had made a deal with Apple, but the official refused to give details, saying Apple was concerned that reports about the deal might affect its brand.
The official website of China's state trademark office showed that ownership of the trademark "i-phone" had indeed transferred from Hanwang to Apple on Monday.
A spokeswoman with Apple in Beijing yesterday declined to comment.
Neither companies have discussed how much money changed hands.
"Hanwang will have sold the trademark to Apple for several million dollars," said Wang Hao, a lawyer from BSFD Intellectual Property Agency in Beijing.
"A trademark is an asset that belongs to its owner, so this deal is quite normal," said Wang, who explained that there was a similar conflict, between Apple and Cisco, over the iPhone trademark in 2007. 
                                                                                                      Source: China Daily