iPhone Trademark War to Erupt Between Apple and Brazilian Company
There is an iPhone trademark war about between Apple and a Brazilian electronics company who acquired the rights to the name in 2000.
The company is called IGB Electronica SA and it has announced a new line of Android smartphones that will be called iPhone.
The first model to be released will be called the Neo One, according to a statement made by IGB in a securities filing.
The company formed this year after the restructuring of Gradiente Electronica SA, who applied for the exclusive rights to the iPhone name in 2000.
Apple is expected to file a lawsuit in the near future regarding the name, or begin negotiations with the company to acquire the rights back.
Apple had a similar issue in China when it had to pay a company $60 million to gain control of the iPad trademark.
The company is now planning to open many new retail locations in Brazil, so IGB Electronica SA's timing is impeccable. These stores will be Apple's first locations in South America and the company already began production of the iPad and iPhone there.
Tim Cook also made recent statements, saying that Brazil is Apple's next big target after China.
Apple enjoyed much success in China this past weekend with the release of the iPhone 5 in the nation.
The company sold over two million units in just three days.
"Customer response to iPhone 5 in China has been incredible, setting a new record with the best first weekend sales ever in China," said Tim Cook in a recent statement. "China is a very important market for us and customers they cannot wait to get their hands on Apple products."
It also launched in 32 other new countries on the same day. However, this recent announcement only relates to the China release.
