Courtesy of Benzinga.
Over the course of recent tumultuous months, Research In Motion Ltd. (NASDAQ: RIMM) actually has some good news to report. The struggling smartphone distributor and its direct competitor Apple (NASDAQ: AAPL) won an intellectual-property case against Eastman Kodak (PINK: EKDKQ), with the International Trade Commission (ITC) dismissing assertions made against the companies.
Kodak took both wireless providers to court as the once highly lucrative picture and printing enterprise claimed that both Research In Motion and Apple had violated one of 1,100 patents the company has in place. This particular legal case, centered on a patent which rules the way images are previewed by digital cameras, could be particularly damaging for Kodak’s patent bids in the future according to The Wall Street Journal.
The company, which currently operates in three segments, could have used this win in order to yank itself from the poor spotlight it has been exposed to. Kodak filed for Chapter 11 bankruptcy back in January, previously stating that it would undergo a business re-organization.
Yesterday, Bloomberg reported that Kodak was attempting to force both Apple and Research in Motion to pay licensing fees, as it had collected over $3 billion from companies such as Samsung Electronics, LG Electronics and Nokia (NYSE: NOK) in the past. Now the question remains, could this particular loss affect the sale of the portfolio Kodak is trying to tout for a price that could fix its monetary woes?
“The loss at the ITC comes at a crucial time for Kodak, which just kicked off the much-anticipated patent sale this month. Bidders are coming up with offers now, and the auction itself is expected during early August. Kodak has said the patents on the block could be valued at $2.6 billion,” The Wall Street Journal reported Sunday evening.
While the ruling was certainly not in Kodak’s favor, troubled wireless provider Research In Motion can breathe a giant sigh of relief as the company has been working overtime to cut costs in several departments. As BlackBerry 10’s success hangs over the smartphone provider as if the business’ life depends on it, Research In Motion would have taken a loss such as the patent case quite hard.
As Samsung’s S III and the iPhone continue to outperform industry expectations, Nokia devices and BlackBerry’s have taken a backseat. Regardless of the cell phone type, Kodak will not be receiving any restitution for its camera technology, leaving smartphones with the upper hand and portfolio sales in an indeterminate state for the moment.
Kodak closed on Friday at $0.25, down just over 60 percent year-to-date.
