Kodak to Sell Business That Made It a Household Name

by Alyssa Oursler | August 24, 2012 11:25 am

Kodak to Sell Business That Made It a Household Name

Eastman Kodak Co. (PINK:EKDKQ[1]) announced plans on Thursday to sell its traditional off-the-shelf print-film business which made it a blue-chip company and household name.

It also may sell other businesses, including its kiosks that develop digital photos, heavy-duty commercial scanners and the theme-park photo souvenir business.

The company sold its Kodak Gallery photo-sharing website[2] to Shutterfly Inc. (NASDAQ:SFLY[3]) and announced plans to stop production of digital cameras[4], video cameras and digital picture frames earlier this year.

Kodak filed for bankruptcy[5] since struggling to adapt to changing times[6]. Canon‘s (NYSE:CAJ[7]) point-and-shoot camera gained popularity over the years, despite the fact that Kodak invented the device[8], and even that is increasingly set aside for the all-in-one Apple (NASDAQ:AAPL[9]) iPhone.

The company hopes to reorganize and get back on track while under bankruptcy protection[10]. It plans to make the sales sometime early next year, The Wall Street Journal[11] reports.

Endnotes:
  1. EKDKQ: http://studio-5.financialcontent.com/investplace/quote?Symbol=EKDKQ
  2. sold its Kodak Gallery photo-sharing website: http://investorplace.com/2012/04/shutterfly-to-buy-kodak-gallery-for-23-8-million/
  3. SFLY: http://studio-5.financialcontent.com/investplace/quote?Symbol=SFLY
  4. stop production of digital cameras: http://investorplace.com/2012/02/kodak-ceases-digital-camera-production/
  5. filed for bankruptcy: http://investorplace.com/2012/01/proof-kodak-was-doomed-14-years-ago/
  6. changing times: http://investorplace.com/2012/08/7-things-future-generations-wont-do/
  7. CAJ: http://studio-5.financialcontent.com/investplace/quote?Symbol=CAJ
  8. Kodak invented the device: http://investorplace.com/2012/01/proof-kodak-was-doomed-14-years-ago/
  9. AAPL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AAPL
  10. under bankruptcy protection: http://investorplace.com/2012/01/proof-kodak-was-doomed-14-years-ago/
  11. The Wall Street Journal: http://online.wsj.com/article/SB10000872396390444812704577607700939340864.html

Source URL: http://investorplace.com/2012/08/kodak-to-sell-business-that-made-it-a-household-name/
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