Bankruptcy Rumors Fail To Deter Kodek From Suing Apple
There have been news reports of Apple suing various companies like Samsung and Android lately. However, there is no dearth of companies that are suing Apple and would probably give up anything to win a lawsuit against Apple.
After all, Apple is one of the world’s top companies with over $70 billion in cash laying around. That is a pie that everyone would like to have piece of.
This time it is Kodak has set its sight on Apple’s money. The 131-year-old photography company has previously attempted to sue the Apple Inc. Now they are doing it again.
Bloomberg has reported that Kodak has filed a patent infringement lawsuit against Apple in a federal court located in Rochester New York. The company believes that Apple is infringing on four of its patents. Many people are surprised by this move of Kodak as there are rumors that Kodak is looking to file for Chapter 11 bankruptcy. Some other rumors suggest that it has been frantically looking to auction off some of its 1,100 digital imaging patents.
The Wall Street Journal reported:
“The photography company is still making last-ditch efforts to sell off some of its patent portfolio and could avoid Chapter 11 if it succeeds, one of the people said. But the company has started making preparations for a filing in case those efforts fail, including talking to banks about some $1 billion in financing to keep it afloat during bankruptcy proceedings, the people said.”
So far, there have been no specific details on the patents yet. However, we can assume that the patents in question pertain to the cameras and photo processing methods found inside Apple’s popular iPhone and iPad products.
Many people believe that Kodak’s lawsuit is a part of some hail mary-effort to avoid bankruptcy by forcing Apple into obtaining patent licenses. Let us wait and watch what happens next.
Source: iDownload Blog