Kodak has found a buyer for its imaging patent portfolios, an important step for the company as it tries to emerge from bankruptcy protection in the first half of 2013.
Kodak said Friday that it plans to stop selling consumer inkjet printers and will eliminate 200 more jobs than previously projected as it requested more time to submit its framework for emerging from bankruptcy protection.
Kodak will close its online photo service on July 2 after a federal bankruptcy judge approved selling the business to Shutterfly for $23.8 million.
Shutterfly's stock climbed after the online photo publishing company emerged as the sole and thus the likely winning bidder for Eastman Kodak's online photo services business.
Eastman Kodak Co. said Thursday it plans to sell its online photo service business to online photo publishing company Shutterfly Inc. for $23.8 million.
Apple, which revealed a new app Tuesday that lets users create and mail greeting cards with their iPhones, might want to consider crafting its own condolence card for traditional greeting card companies.