Kodak sues Fujifilm as stock slumps

Eastman Kodak Co. is suing Fujifilm Corp., claiming that some of its Japanese rival's cameras infringe its patented digital-imaging technology.

The lawsuit, filed Friday in US District Court in Rochester, claims Fujifilm is infringing five separate Kodak patents related to various aspects of capturing, storing, previewing and transmitting images.

Kodak shares fell 15 cents, or 22.3 per cent, to close at 52 cents.

The ailing photography pioneer, which has relied on patent licensing fees and lawsuits for extra cash for years, says it has licensed the same technology to more than 30 companies, including mobile-device makers such as Motorola Inc. and Nokia Corp.

Kodak says it turned to litigation after years of failed negotiations with Fujifilm. The talks ended with the Tokyo-based company suing Kodak in October for patent infringement.