Kodak, which posted a loss of $167 million in latest quarter, revealed that it plans to sell 1,100 patents, which makes up 10 percent of its massive patent portfolio, for a huge sum of money.
According to The Wall Street Journal (opens in new tab), one of the patents that the company is hoping to sell is directly related to the patent infringement lawsuit it had filed against Apple and BlackBerry maker RIM. The company had filed a lawsuit against Apple and RIM in January 2010.
The WSJ cited a person familiar with the matter who claimed that the sale of patents could be more than Kodak’s market value of $650 million.
The company has been suffering by the drop in sales of camera films and has been trying to live off its huge patent portfolio, via licensing, as it hopes to emerge as a digital imaging company. The company licenses its patents to more than 30 companies including Nokia, LG, Sony Ericsson and Motorola.
Experts believe that Apple and RIM might just opt to buy the patents from Kodak. This will serve them by saving the huge royalty fees and ever increasing litigations costs. On the other hand Kodak would benefit financial which will allow it to fill the void of the loss it posted in the previous quarter.