by Alyssa Oursler | August 24, 2012 11:25 am
Eastman Kodak Co. (PINK:EKDKQ) 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 to Shutterfly Inc. (NASDAQ:SFLY) and announced plans to stop production of digital cameras, video cameras and digital picture frames earlier this year.
Kodak filed for bankruptcy since struggling to adapt to changing times. Canon‘s (NYSE:CAJ) point-and-shoot camera gained popularity over the years, despite the fact that Kodak invented the device, and even that is increasingly set aside for the all-in-one Apple (NASDAQ:AAPL) iPhone.
The company hopes to reorganize and get back on track while under bankruptcy protection. It plans to make the sales sometime early next year, The Wall Street Journal reports.
Source URL: http://investorplace.com/2012/08/kodak-to-sell-business-that-made-it-a-household-name/
Short URL: http://invstplc.com/1nFvZ4t
Copyright ©2016 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.