Bad news for Apple and RIM shareholders today, as the two smartphone giants lost out to Eastman Kodak in a the latest round of their patent dispute.
Kodaks stock rose by 22% after news that the US International Trade Commission will review a judge’s view that ruled against the company in January.
Kodak claims both Apple and BlackBerry maker Research In Motion violated a patent relating to the previewing of digital photos on a smartphone. Unsurprisingly the two smartphone manufacturers disagree.
Apple and RIM aren’t the first Kodak has gone after – Samsung and LG felt the patent hurt back in 2008, with the pair settling for a combined $964 million. While Apple has more cash on-hand than they know what to do with, RIM won’t want to spend the money if they don’t have to.
Patents are proving a lucrative business for Kodak, with the company raking in $838 million last year alone. With that kind of money coming through the courts, who needs to make cameras!?