News Summary: New iPad goes on sale in China

Associated Press
The first customer, Sun Xufei, a 32-year-old software engineer, holds up a box containing Apple's iPad he purchased after an Apple Store started selling its new tablet computers Friday, July 20, 2012 in Shanghai, China. (AP Photo/Eugene Hoshiko)

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THE DEBUT: Apple released its newest iPad in China on Friday. To control crowds, buyers had to place orders in advance.

THE DELAY: Although the iPad was made available elsewhere months ago, Apple was in a dispute in China over the name. The company paid $60 million to settle a lawsuit with a local company.

SIGNIFICANCE: China is Apple's second-largest market after the United States and the source of much of the U.S. company's sales growth.

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