kodak to sell film business personal finance - digital doc camera

Eastman Kodak said on Thursday that it would sell the business unit, which includes "traditional photographic paper and static photographic paper products ".
"In recent years, movies have been replaced by digital imaging technology.
The department also includes its retail division, which includes tens of thousands of photos
The print lab and the kiosks pavilion, as well as its "active imaging" department, provide souvenir photos at the theme park, including automatic snapshots of screaming roller bakers riders.
In addition, the company is selling its file scanning business.
An open letter from Kodak Chief Executive Antonio Perez said he hoped the deal would be completed in the first half of 2013.
But some aspects of its printing business continue, the company said, including commercial printing, Entertainment Imaging, commercial film, Consumer Ink and specialty chemicals.
The company filed for bankruptcy on January and said on Thursday it "sold these assets" and the cost.
"Cuts" will be an important milestone in completing the restructuring and rise of the company in 2013. " Kodak (EKDKQ)
Spokesman Christopher Veronda declined to value the assets sold in dollars.
When asked if Kodak received any bids, he said the sales process was just beginning.
"The only thing I was shocked about was that five or ten years ago, when it was still valuable, they didn't try to sell it," said Michael Holt, A photo industry analyst at Morningstar refers to the film part of the business.
But the question is, who will they sell?
Nima Samadi, an analyst at IBIS World photography, said Fujifilm
Is the only company that could buy the Kodak film division, but there is no viable reason given the shift to digital.
"They may buy this product very cheaply, and it will be a grab of market share, even though the market is shrinking rapidly," he said . ".
"The fan base who likes movies is still small compared to numbers, and less, but the structural shift is to turn to numbers.
"In filing for bankruptcy, the company said it had assets worth $5.
1 billion, but it also has 100,000 creditors with a total debt of $6. 75 billion.
N RochesterY. -
Based in Kodak, founded in 1888 by George Eastman, digital cameras were invented in the 1970 s.
But Kodak failed to embrace digital technology as aggressively as rivals like Sony. SNE)
Nikon and Samsung, as well as its reliance on outdated film technology, have led to its failure.