Apple is close to reaching a settlement for the "iPhone" trademark in Brazil, according to Forbes. The company has been locked in a lawsuit with Brazilian company IGB Electronica, which was granted the Brazilian iPhone trademark in 2007. IGB originally applied for the iPhone trademark in 2000. Since 2007, it has been selling a smartphone by the name of "Iphone" under its G-Gradiente brand. The phone runs the Android OS.
Forbes notes that Brazil's largest newspaper, Folha de São Paulo, reported on Saturday that the two companies have entered into a "Pacific agreement," which will see lawsuits
