Kodak to sell film business
In its heyday, Kodak is known for its film products, but it the company’s troubling finances it plans on giving up on that. Eight months after filing for bankruptcy, Kodak has decided to sell its traditional film businesses. This is part of the streamlining process the 130-year-old imaging company is conducting, as it transitions to fully concentrate its business to commercial-focused products, with printers taking the center stage.
Kodak also wants to sell its “personalized imaging” and “document imaging” services, including those kiosks in malls that develop digital photos, as well as its business of taking photos of people riding roller coasters and other adrenaline-pumping attractions in theme parks.
This plan comes after Kodak ended up disappointed on its attempt to sell over 1,100 patents the company originally priced between $2.2 billion to $2.6 billion. Instead of selling it to a single buyer, prospective buyers (which include Apple and Google among others) form a consortium that would joint buy the patents, thus bringing the bids down for as low as $250 million.