Bankrupted Eastman Kodak!?
Oct 8th, 2011 by adrianlai
Eastman Kodak, once a dominant player in the digital photography market, is now rumoured to be filing for bankruptcy. It recently hired Jones Day, an advisor for bankruptcy, to restructure the business. Hoping to save the failing company, Kodak drew $160 million against its credit line, and entered into an agreement for a new credit facility of up to $400 million. After flailing in its printing business and losing momentum in its digital camera business, Kodak is also looking to sell its more than 1000 digital-imaging patents worth nearly $3 billion, more than the business itself. This would buy the company time to give its inkjet printer business a crucial boost.
I agree with Kodak’s strategy to market and potentially sell their vast portfolio of patents. Given the company’s current condition and the unstable economy globally, it is necessary for them to have enough cash flow. Its patents include technologies used in a bulky 85 percent of all digital cameras and smartphones. Many companies like Microsoft could benefit from these invaluable patents. After selling their patents, Kodak should focus its resources on its printer business, which lately has picked up market share from HP and Canon with its printing features and less-expensive ink. If it is able to capture some of the printer business, then Kodak would be able to survive its current tough times.
More information can be found here.
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