"Kodak was really slow to make a transition into digital photography and by late 90s, even the sale of photographic films dropped so significantly that Kodak almost became bankrupt. In 2012 (January), the company filed for bankruptcy protection as per Chapter 11 of US bankruptcy law and was forced to sell several of its patents at a price of $525 million to companies like HTC, Adobe Systems, Samsung, Microsoft, Amazon, Facebook, Google and Apple by 2013. This helped the company to emerge from bankruptcy on September 4, 2013.
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