Not necessarily. Even if Apple could "cancel" Cisco's USPTO trademark registration for IPHONE, it still has to prove that Cisco abandoned their common law trademark rights in the mark. It is basic to US trademark law, that first use of a trademark, not registration, establishes exclusive rights to the mark. To prove abandonment, Apple will have to show Cisco took actions to abandon the mark AND it intended to abandon its rights. See http://www.trademark-blawg.com/2007/01/isuit-25.html
Let the hive mind of Engadget get that for you.
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