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Message: Kodak Sues Samsung, LG Over Digital-Camera Patents

Kodak Sues Samsung, LG Over Digital-Camera Patents

posted on Nov 17, 2008 02:29PM

DOW JONES NEWSWIRES

Eastman Kodak Co. (EK) sued Samsung Electronics Co. (005930.SE) and LG Electronics Inc. (066570.SE), alleging infringement of digital-camera patents.

A lawsuit filed in U.S. District Court for the Western District of New York and a complaint to the U.S. International Trade Commission are specifically concerned with patents related to image capture, compression, data storage and a method for previewing motion images.

The lawsuit asks for unspecified damages, and both cases seek injunctions prohibiting Samsung and LG from further imports and sales of the products.

Kodak has been working to boost profitability by tapping its rich portfolio of imaging patents. Chief Executive Antonio Perez told analysts early this year that he expected the company to earn between $1 billion and $1.4 billion in patent-licensing royalties by 2011.

In December, Kodak wrapped up a four-year, $3.4 billion overhaul aimed at transforming itself into a leader in digital photography from the world's biggest film manufacturer. It slashed its work force to 26,900 from 64,000.

A representative of LG said, "As a matter of policy, LG Electronics does not generally comment on pending litigation." A Samsung representatives wasn't immediately available for comment.

Kodak's shares closed down 7.5% at $7.30 and rose 18 cents, or 2.5%, in after- hours trading.

-By Kathy Shwiff, Dow Jones Newswires; 201-938-5975; [email protected]

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http://money.cnn.com/news/newsfeeds/articles/djf500/200811171802DOWJONESDJONLINE000620_FORTUNE5.htm
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