Getting your player ready...
ROCHESTER, N.Y. — Eastman Kodak Co. said Tuesday it is realigning and simplifying its business to cut costs, accelerate its digital transformation and boost its share price. The shares shot up 50 percent to 60 cents.
The ailing photography icon, which has relied on patent- licensing fees and lawsuits for extra cash for years, also sued Apple Inc. and HTC Corp. on Tuesday. It claims their products infringe several of its digital-imaging patents.
As of Jan. 1, Kodak said, it has two business units — commercial and consumer — instead of three.
