The U.S. International Trade Commission ruled on Monday that Kodak did not infringe on Apple’s patents, upholding an ITC judge’s decision from May.
Apple lodged its complaint with the ITC in April last year as a countersuit to a suit filed by Kodak. The Cupertino, Calif., iPhone maker had alleged that Kodak violated digital imaging software patents with its digital cameras.
“We are pleased that the commission has confirmed the [administrative law judge's] finding that there is no violation by Kodak,” said Kodak spokesman David Lanzillo.
After falling 8.03 percent to $2.52 on Monday, shares of Kodak regained some lost ground in after-hours trading. The company’s stock has been in free fall, losing more than 50 percent of its value since the beginning of the year.
Kodak has previously enforced the patent against Samsung and LG, receiving $950 million in royalties from the two companies. As profits from the camera film market have dried up, the company has resorted to licensing fees from its well-stocked patent portfolio for revenue. According to the report, the company expects to see $250 million to $350 million in licensing revenue each year through 2013.
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