Apple settles suit for 100m with Creative
August 25, 2006
Apple has agreed to pay US $100m to settle its legal suit with one of their main competitors in the MP3 player market, Creative Technology. Apple and Creative are now ending their lawsuits, with Apple taking out a license to use the ‘Zen Patent’ interface for browsing through music on an mp3 player. According to reports, Creative also gets the right to create accessories for iPods, a multi-million dollar market it has avoided until now because it competed with Apple, although it now sees the potential of making accessories for their No.1 competitor thanks to Apple’s huge market share.
