Andre Yoskowitz
15 Feb 2012 15:26
Apple is seeking approval in New York to sue the bankrupt photography pioneer over patent infringement.
Kodak, the storied company, filed for bankruptcy protection last month looking to shred major expenses.
The company released the world's first consumer camera in 1888 and is still looking to sell off some of its patent portfolio and a successful deal would keep the company out of Chapter 11 bankruptcy. The company has 1100 very valuable photography and digital photography patents and internally they value the portfolio at around $2 billion. Despite inventing the digital camera in 1975, the company never capitalized on it, instead sticking to their film business, which has all but disappeared and had already begun shrinking in the 1990s.
Earlier this month, the company announced it would stop making digital cameras in an effort to focus on its more profitable businesses. Into the future, the company will focus only on photo printing and desktop inkjet printers. Unfortunately for the company, Apple's patent complaint is for technologies used in printers, which would effectively kill what is left of the company if Apple was to be victorious.
If the U.S. Bankruptcy Court does approve Apple's request, the company will then file lawsuits seeking injunctions with the ITC and the US District Court.