ONCE BANKRUPT CAMERA MAKER Eastman Kodak announced that it has emerged from Chaper 11 bankruptcy on Wednesday as a new company focused on document and personal imaging.
Kodak filed for bankruptcy in January 2012, and emerged 20 months later as a company focussed on selling commercial print technology. The firm will still operate primarily as Kodak, although the company has sold its document and personalised imaging business to the UK Kodak Pension Plan (KPP), who will operate these businesses that will be known as Kodak Alaris.
Gone are the units making cameras that made the company famous, and instead Kodak Alaris will focus on business to business document imaging while retaining consumer focus in the personal imaging sector, which will see the company offering consumers easy ways to print images.
The document imaging business will see the firm targeting the health, legal, financial and governmental sectors. Martin Birch, Kodak EMEA MD of document imaging told The INQUIRER that the firm will manage to stave off competition thanks to the end to end services that Kodak Alaris will offer.
"We have the world's widest rage of scanning devices. Kodak is already the market leader in this sector and has the industry's widest portfolio. No other company can match that," Birch said.
"This is one of those deals that's win, win, win," Birch added, saying that the new birth of Kodak Alaris allows the firm to "give more than ever to the growth of next-generation services.
"It's one of those very rare, good news all-round situations."
Birch added that when the transaction is completed, Kodak Alaris will have more than 4,700 employees worldwide, and expects revenues of more than $1.3bn. µ
Oh and it'll also help give aural pleasure
But it might still not be enough to make virtual reality super appealing
And a ridiculous competition
Now you can talk to your silly-looking earbuds too