The company reportedly has exclusive rights to the name in the local market.
The first model will be called "Neo One," IGB said in a securities filing. The company was formed this year after the restructuring of Gradiente Eletronica SA, which had applied for exclusive rights in Brazil to register its products under the name IPHONE in 2000. The filing said Gradiente had foreseen the revolution in the convergence of voice and data over the Internet at the time, before Apple Inc's iPhone existed. In 2008, the company secured rights to the name from a local regulator of patents.
It will be interesting to see how Apple responds to the news.
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