Here are your Apple rumors and AAPL news items for today.
iPad Name May Cost Apple $1.6 Billion in China: A Tuesday Business Insider report said that China-based Proview Electronics filed a lawsuit against Apple seeking damages for using the name “iPad.” Proview claims to hold a patent on the name and is looking to get $1.6 billion and an apology from Apple. Apple originally purchased the rights to use the name from Proview for just $55,000, but now the company claims that agreement did not cover usage in China itself. A Chinese court has already ruled in favor of Proview. Apple has appealed the decision. Even for a company with $100 billion in cash sitting around, $1.6 billion is a sizable sum.
Rogers, BCE Looking to Work With Apple on HDTV: A Monday report at The Globe and Mail said that Rogers Communications (NYSE:RCI) and BCE (NYSE:BCE) are both vying for partnerships to work with Apple on the iTV, the company’s rumored HD television set. These companies would in theory provide Apple with wireless communications technology support in Canada. The report’s source said that it’s possible that Apple will ultimately work with both Rogers and BCE in the region. The chief competitor of both Rogers and BCE, Telus Corporation (NYSE:TU), is said to be working on a version of its Optik TV set-top box, which is expected to provide similar functionality to the iTV. The new Telus box will allow users to use both gestures to navigate menus and flip channels (a la Microsoft‘s (NASDAQ:MSFT) Kinect) and voice commands, not unlike Apple’s Siri technology.
Adobe Announces New Creative Cloud Service: Longtime Apple antagonist Adobe (NASDAQ:ADBE) announced the details of its new Creative Cloud service on Tuesday. For $50 per month, subscribers will have access to Adobe’s Creative Suite 6 on any device, with 20GB of cloud storage and access to tools like Digital Publishing Suite, which is used for converting content into interactive iPad apps. A business version of the service, available for $70 per month, is designed to give a team of employees access to a single cloud account. The Creative Cloud service will be available when Creative Suite 6 is released, before the end of the second quarter.
As of this writing, Anthony John Agnello did not hold a position in any of the aforementioned stocks. Follow him on Twitter at @ajohnagnello and become a fan of InvestorPlace on Facebook. For more from the company, check out our previous Apple Rumors stories.