There was a time when Kodak controlled more than 90% of the US film market, and 85% of all camera sales. However, a lot can change in 35 years.
On Tuesday, 3 July 2012, US Bankruptcy Judge Allan Groper said in a hearing that struggling Kodak can auction off more than 1,100 patents as part of its bankruptcy restructuring plan. This was reported by Bloomberg.
We reported earlier that camera and film pioneer Kodak is going through Chapter 11 bankruptcy. Dealing with angry creditors, the company was also going through a legal battle with Apple over the rights to several patents in its patent portfolio.
Aiming to extort money from Apple by suing iPhone-maker and save itself for bankruptcy, Kodak is now left with an egg on its face at the US International Trade Commission(ITC).
When Kodak tried to sue Apple and extort some money to save itself from bankruptcy, Apple turned the tables on Kodak and countered its claims. Apple still wanted to sue Kodak despite Kodak going bankrupt.
Kodak is in trouble. Big trouble! Almost a month after filing for Chapter 11 bankruptcy and mere days after shuttering its digital camera business, now Kodak is in mess where it has to face hostility from Apple.
We reported earlier that Kodak had planned to sue Apple, claiming Apple violated the patents related to digital photography. There are rumors that Kodak is going to be bankrupt soon and is trying get some money from Apple by filing this lawsuit. Kodak has a lot to lose in this lawsuit.
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.