Apple iPhone Brazil: As you may recall from a piece we published last month, Apple Inc. (NASDAQ:AAPL) does not have the right to use the iPhone name in Brazil. Instead, another company owns the trademark. As you can imagine, this is a huge pain for the Cupertino-based company. After all, the iPhone is undoubtedly one of its most popular devices.
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Fortunately, it appears that things are moving in the right direction in terms of finding a resolution.
At this time, the company is in negotiations related to the trademark with Brazilian telecommunications service firm IGB Eletronica. The Brazilian company owns the Gradiente brand, which staked claim to the iPhone name in March 2000.
As you know, Apple Inc. (NASDAQ:AAPL) had yet to release its iPhone to the market at this time. With all that in mind, the company is still hoping to gets its mitts on the name sooner rather than later.
According to a report by Forbes.com, Brazil’s largest daily, Folha de São Paulo, is reporting that the two companies are close to an agreement that will end the lawsuit related to the trademark.
It is no secret that Apple Inc. (NASDAQ:AAPL) has paid a lot of money in the past for exclusive rights to the iPhone name. It is safe to say that the tech giant is going to do the same this time around, especially since the Brazilian company appears to have the upper hand.
It is important to note that the Gradiente smartphone does not rely on the Apple operating system, but instead is powered by Android.
In the weeks to come, there is a good chance that this drama will come to a close. The question is: how much money will Apple Inc. (NASDAQ:AAPL) have to pay in order to receive full rights to the name in Brazil?
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DISCLOSURE: I have no positions in any stock mentioned.
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