Struggling Kodak lash out over patents:
In what looks like an attempt to tell the world that Kodak has value somewhere, Kodak has looked on Apple and HTC to get their legal guns out over patents once more.
Kodak fall from grace:
With talk of Kodak filing for bankruptcy protection last week, news that the NYSE was looking to delist the 130 year old company for trading with a value under $1 per share for so long comes as a surprise to many.
The Rochester based imaging giant has taken a fall from grace over recent years, and is looking to take a leaf out of Apples love of litigation.
The base of the claims lie with Kodak believing that both HTC and Apple are infringing some of their patents related to digital imaging, and more specifically image transmission and preview, with specific devices being pinpointed for the infringement, these include the Apple iPad, iPhones and iPods with HTC smartphones and tablets also infringing four of the key patents.
HTC also accused of the same Apple and RIM patent issues:
An ongoing two year old issue related to “image-preview” patents, and technology owned by Kodak, has now seen HTC included in the mix.
The lawsuits which were filed on Tuesday, I feel aim to highlight that the flailing Kodak Corp still has some residual value, in a bid to bump share prices up a little and make the world feel like nothing is wrong at the bad ship Kodak, the truth being far from this.
Kodak share price plummets over 12 years:
Kodak has seen its share price plummet in the last few years, and now currently sells shares at less than $1 each on average for the last month, from a much mightier $66 only 12 years ago, indeed only last week, news of the bankruptcy filing, sent Kodak shares down to a new record low of some $.36 each.
With an overall loss of 99% of market value in 12 years, that is one bad decade for Kodak.
Kodak share hike saves them getting delisted from NYSE:
Indeed only this week Kodak saw a much needed price hike sending shares closer to $1 for the first time in a long while, all on the back of an admission that they need to restructure and cut costs, but also perhaps on the back of threats from the New York Stock Exchange who have warned that Kodak’s shares will be ‘delisted’, or dropped, unless they stop looking so sickly.
If Kodak do indeed go under this year, we have provided a nice graphic for you to take a look at the once mighty company prior to their unfortunate demise.
Click here for History Of Kodak Infographic.
Talks of licensing deals worth over $1 billion are still ongoing with Apple and RIM so we will keep you posted on news related to this area.
What do you think of Kodak going under this year? Likely or unlikely?
Anthony Munns