Apple has paid $60m (€47.6m) to Proview Technology (Shenzhen) to end a dispute over the iPad trademark in China that saw the world’s most valuable technology company engaged in a protracted legal tussle with a near-bankrupt Chinese firm.

A Chinese court said Apple has agreed to pay a local company $60m to settle a dispute over ownership of the iPad name.

More Chinese cities have seized iPads from retailers in a dispute between Apple and a local company over ownership of the tablet's name.