Eastman Kodak filed for chapter 11 bankruptcy today.
Now its hopes rest on making money off its patents, the company said in a statement.
Despite the dire financial circumstances, Kodak still found the cash to enter into new patent infringement litigation, which by anyone’s account isn’t cheap. Yesterday, Kodak slapped Samsung with a lawsuit for how Samsung’s tablets work with and transmit digital images.
Kodak is also suing Apple, HTC and Research In Motion for the same, notes Ars Technica.
Its motivations are obvious. Kodak has licensed its digital imaging patents to more than 30 companies, it said, including LG, Motorola, and Nokia. Royalties on such licenses have generated $3 billion since 2003, said chairman and CEO Antonio Perez.
“Chapter 11 gives us the best opportunities to maximise the value in two critical parts of our technology portfolio: our digital capture patents … and our breakthrough printing and deposition technologies,” Perez said.
With the rise in digital cameras and the downfall of film, Kodak’s struggles are no surprise. Since 2003, it has closed 13 manufacturing plants and 130 processing labs, and slashed its workforce by 47,000.