It sounds like Apple took Brazil’s IGB up on its offer to work out terms for the iPhone trademark. According to a Brazilian newspaper, the two companies have allegedly reached a deal, though the terms were not disclosed.
IGB previously trademarked the iPhone name in 2000, long before Apple debuted its market changing smartphone in 2007. IGB never actually had an actual “iphone” handset until late last year, which was a low-end Android device.
Apple has never been one to share the spoils, and it was only a matter of time before we got wind of the company trying to scoop up the iPhone name in Brazil. So while the terms are unclear surrounding the possible agreement, we’d expect Apple to part with millions of dollars to have sole custody of the iPhone name. It’s not like Tim Cook and Co. can’t afford it.