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Broke Kodak Will Halt All Camera Production
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Just a few weeks after filing for bankruptcy, Kodak says it will stop producing digital cameras, pocket video cameras, and digital picture frames in the first half of 2012. The move will reportedly save Kodak $100 million a year. Instead, the legendary camera company will focus its efforts on printers. Sad. We really like the Kodak Playsport pocket cam. In fact, it's still featured in the top image for our monthly Bestmodo posts.
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Kodak film division still profitable
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Kodak, which announced last week that it was filing for Chapter 11 Bankruptcy protection in the United States, has confirmed that its film division will survive as long as it remains profitable.
Speaking to the British Journal of Photography, a spokesperson for the business said "We have taken steps to sustain the business as it has declined, and we know that there are hundreds of passionate fans of film for the artistic and quality reasons they cite."
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Apple asks bankruptcy court to prevent Kodak from using disputed patent as collateral for loan
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Seeking $950 million in post-bankrutcy loans, Kodak is planning on using some patents as collateral for the facility. The only problem is that Apple believes that the patents belong to them and is asking the bankruptcy court to block the photography firm from using the patents to obtain the loan. In a filing in the US Bankruptcy Court in the Southern District of New York, Apple states that Kodak is trying to "enter into a $950 million postpetition financing facility secured by security interests in and liens upon substantially all of Kodak’s assets, including certain patents that are subject to ongoing patent ownership and patent infringement disputes between Kodak and Apple."
Apple claims i...
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Kodak files for Chapter 11 bankruptcy
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Patent lawsuits won't save Kodak from an overhaul, it seems: as predicted, the photography company just announced that it's filed for bankruptcy. Kodak says it's voluntarily filed for Chapter 11 reorganization in New York, in order to "bolster liquidity in the U.S. and abroad, monetize non-strategic intellectual property, fairly resolve legacy liabilities, and enable the Company to focus on its most valuable business lines." It's also tentatively obtained $950 million in debtor-in-possession credit so it can keep operating while it formally goes bankrupt: the company says it expects to keep paying employees, serving customers and honoring obligations for the time being.
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Kodak adds Samsung to its list of those allegedly using its patents illegally
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Despite its position as an iconic American corporation and obviously one of the leaders in photography, Kodak's days are quite possibly numbered. With a stock price measured in cents and a product that not too many use any more, the company is on the verge of bankruptcy. One thing that Kodak hopes will keep it alive is its patent portfolio and earlier this month, the company sued both Apple and HTC for patent infringement. The patents in question deal with digital imaging.
On Wednesday, Kodak added Samsung to the list, claiming that the Korean based manufacturer had violated five of Kodak's patents. These patents deal with the capturing of digital images which are then sent out through a cel...
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Kodak sues Fujifilm
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Kodak has issued its latest lawsuit against rival camera manufacturer Fujifilm, which it suggests is infringing several of its patents. The lawsuit was filed in the US on Friday, with the claims suggesting that Fujifilm has infringed five separate Kodak patents which relate to different aspects of capturing, storing, previewing and transmitting images. It apparently comes after several years of failed negotiations with Fujifilm, which ended up suing Kodak itself back in October for patent infringement.
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Kodak sues Apple, HTC over digital imaging patents
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Kodak has announced that it’s suing Apple and HTC for infringing on four of its digital imaging patents. It also claims HTC to be infringing on a fifth image preview patent, which is already at the center of an ongoing case that Kodak has lodged against Apple and RIM. This latest suit was filed today with the US International Trade Commission and in a New York district court.
The lawsuit claims that Apple’s iPhone, iPad, and iPod as well as HTC’s smartphones and tablets use image transmission technology that infringe on Kodak’s patents, which it has already licensed to over 30 companies, including Samsung, LG, Motorola, and Nokia. It claims to have had numerous discussions with Apple and HTC...
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Kodak reveals new cameras and apps
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Kodak has unveiled new compact cameras to sit in its Easyshare and Playfull range, along with two new apps for creating albums and prints. The first camera, the Kodak Easyshare M750, enables users to share pictures instantly. Using the Kodak Easyshare app on Android, Apple or BlackBerry devices enables pictures to be sent wirelessly to Facebook, Kodak Gallery and email, as well as emailing pictures to compatible Kodak printers. The camera also works with home Wi-Fi networks. Other features include a 16 megapixel sensor, 5x optical zoom and a 3-inch touchscreen. Meanwhile, the Kodak Playfull Dual Camera combines a 1080p HD video camera capable of recording at 60fps with a 12MP BSI CMOS sensor...
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Kodak announces new still and video cameras
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Kodak is unveiling two new cameras today, adding a model to both the EasyShare and PlayFull lineups. While certainly not the “reboot” we were hoping for from this company, the two cameras are at least pretty cool in their own right.
First up is the EasyShare Wireless, a b/g/n wi-fi equipped ultracompact capable of transmitting captured stills and videos to a nearby computer or wireless printer, without the need for cables or memory card swapping. iPhone tethering is also possible, which will allow remote data transfer from almost anywhere. Essential specs include a 16 megapixel CCD sensor (1/2.3-type), 5x optical zoom, ISO sensitivity up to 1600, and a full suite of in-camera effects and sce...
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Kodak warns it may be delisted from NYSE, might not recover
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Kodak has warned shareholders that it has received a notice from the New York Stock Exchange that its stock may be delisted. The NYSE is said to have sent a letter nothing that Kodak shares have failed to maintain a closing price of at least $1 for 30 consecutive trading days, in violation of listing standards.
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Kodak reshuffling to avoid bankruptcy
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Struggling photography brand Kodak has hired law firm Sullivan & Cromwell's, in a bid to restructure its finances in order to avoid bankruptcy, according to reports.
Earlier in the year, Kodak employed Jones Day, sparking worldwide speculation that it was about to file for bankruptcy, as Jones Day is well known for working on such cases.
The reasons behind the switch in law firms remains unclear, however Kodak is remaining resolute regarding filing, seemingly keen to avoid it all costs.
Kodak has been facing increasing financial problems, with warnings last month that it could run out of cash if couldn't sell assets or raise new funds quickly. By the end of September, Kodak had $862m, down f...
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Kodak licenses projector patents to IMAX to stay afloat
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Eastman Kodak has not handled the transition to digital photography as gracefully as its competitors, but when your company’s over a century old, staying nimble isn’t as easy as it used to be. Of course, a company with that much history has an overabundance of intellectual property, and that fact might help Kodak stay relevant in a market that has been outpacing it for several years. Kodak has announced a deal with IMAX to license its laser projection patents to the movie company, allowing it to more effectively project digital films on its gigantic screens.
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Kodak rolls out Playfull Waterproof rugged pocket video cam
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Kodak picked Friday to show a different take on its pocket camcorders. The Playfull Waterproof is a cousin to the original Playfull that trades some performance for hardening against conditions. Although it drops from 1080p down to 720p, it can survive underwater depths of up to 10 feet for two hours, or enough to fill much of the sometimes bundled 4GB SDHC card.
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Kodak Is on the Verge of Being Worth Zero Dollars
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Have you taken a look at Kodak's stock today? Get a good look while you can, because it's shitting the bed worse than a disemboweled E. coli patient-already down 60%, to less than a dollar. This is how it ends.
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Shareholders lose faith in Kodak's future
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Shares in iconic photography and printing brand Eastman Kodak have fallen by 25 per cent amid the news that a £103 million loan for "general corporate purposes" has been taken out.
Although Kodak was well known for its film photography technology for over 100 years, it has not made a profit since 2007.
Overall, shares have fallen by 66 per cent this year alone. In 1997 shares in Kodak were valued at $90 (£57), but on Monday had fallen to just $1.74 (£1.20).
Cash flow
Recently, the company has spent millions of dollars investing money into the business, with the recent loan of $160 million (£103 million) said to be worrying investors.
Speaking to Reuters, a spokesman from Kodak, Christopher V...
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