Apple has reportedly offered Proview 16 million to settle its battle over the iPad trademark in China, reports TNW.
A report shared by Sina (via the Beijing Times) states that Apple offered 100 million yuan ($16 million) for rights to the mark in China but cash-strapped Proview would not agree terms. Proview is thought to be looking for at least 400 million yuan ($63 million) in order to appease its creditors, eight of which are Chinese banks.
Proview was looking for $2 billion in compensation from Apple in its U.S. lawsuit; however, that suit was recently dismissed.
With creditors breathing down its neck, Proview is likely feeling the pressure to settle as soon as possible.