Eastman Kodak finally triumphed over Apple and BlackBerry maker Research In Motion in the last round for the patent dispute, which could actually generate more than $1 billion in latest licensing proceeds for the Rochester, N.Y. camera company.
Right after the U.S. International Trade Commission said they will review a judge’s opinion from January against Kodak, the camera company’s stock increased to 22%, $4.11. The earlier decision said Kodak’s patent for previewing digital images had not been violated by Apple’s iPhone and RIM’s BlackBerry.
Yet this is a big thing for the 131-year-old camera company as they are trying to struggle against rivals’ technological innovations. Consultant Robert Sethre of Photizo said, “Either RIM and Apple are going to pay a bundle of money, or not. It’s easier to pay the money than pull the products off the market.”
The same patent complaint was also filed by Kodak against Samsung and LG in 2008 for the same reason as with Apple and RIM. Samsung and LG settled with Kodak for a total of $964 million.
After making $838 million from patents in the previous year, Kodak told investors they expect to average $250 million to $350 million in yearly revenue from wise property licensing through 2013.
Gerard Meuchner, Kodak spokesman, said they are very much happy with the decision and are trying to figure out the next step to do.
The final decision from the commission shall be made by May. Apple and RIM didn’t release any comment.
photo credit: keetsa.com