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| Kodak Printer Shot |
Another round of sad news for Kodak. After filing for bankruptcy,
shutting down its digital camera business (a device Kodak invented but
did not improve on the technology further), and getting itself in a web
of patent infringement lawsuits,
the company has announced it will no long sell consumer inkjet printers
starting next year. Instead, the 123-year-old company will focus its
efforts on commercial printing devices.
In an effort to keep business afloat, Kodak decided to auction off
its bevy of patents valued at up to $2.6 billion. The move has
attracted the unlikeliest of business alliances such as Apple and
Microsoft versus Google and Samsung. Despite the attractive offer, the
bidders can only offer for under $500 million.
Kodak has also sold its traditional film business as part of its streamlining.
Source: Fox Business News, via Engadget
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