Japan's Funai Electric to Sell Kodak Printers

[news]

Japan's Funai Electric to Sell Kodak Printers
By Shawn Schroter
TOKYO— Funai Electric Co. of Japan said Monday it has entered into a licensing agreement with Eastman Kodak Co. to sell Kodak-brand consumer and office printer products world-wide.

The Osaka-based discount appliance retailer, which is a supplier of consumer electronics to high-volume retailers such as Wal-Mart Stores Inc., said in a written statement that it plans to strengthen its printer business by offering the Kodak brand and will seek to increase its earnings by acquiring new customers. It said it would start producing and selling Kodak-brand printer products and related consumable supplies in the fiscal year starting in April.

The company said it doesn’t expect the move to have a material impact on its earnings for the current fiscal year.

Kodak, based in Rochester, New York, has been restructuring its operations since it filed for bankruptcy-court protection in 2012.

Last week, Kodak said it struck a deal with six of Hollywood’s major studios to avoid shutting down its motion-picture film business. Twentieth Century Fox , Paramount Pictures, Sony Pictures , Universal Pictures, Walt Disney Pictures and Warner Bros. have all agreed to make advance purchases of film over the next few years, based on estimates of how much they would need, in sufficient quantity to allow Kodak to keep its film plant in operation.

Japan's Funai Electric to Sell Kodak Printers
By Shawn Schroter
TOKYO— Funai Electric Co. of Japan said Monday it has entered into a licensing agreement with Eastman Kodak Co. to sell Kodak-brand consumer and office printer products world-wide.

The Osaka-based discount appliance retailer, which is a supplier of consumer electronics to high-volume retailers such as Wal-Mart Stores Inc., said in a written statement that it plans to strengthen its printer business by offering the Kodak brand and will seek to increase its earnings by acquiring new customers. It said it would start producing and selling Kodak-brand printer products and related consumable supplies in the fiscal year starting in April.

The company said it doesn’t expect the move to have a material impact on its earnings for the current fiscal year.

Kodak, based in Rochester, New York, has been restructuring its operations since it filed for bankruptcy-court protection in 2012.

Last week, Kodak said it struck a deal with six of Hollywood’s major studios to avoid shutting down its motion-picture film business. Twentieth Century Fox , Paramount Pictures, Sony Pictures , Universal Pictures, Walt Disney Pictures and Warner Bros. have all agreed to make advance purchases of film over the next few years, based on estimates of how much they would need, in sufficient quantity to allow Kodak to keep its film plant in operation.

[Author]

February 10, 2015 at 10:38 AM