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First Bids in Kodak Patent Auction Are in, and They're Low

Aug 7 2012, 12:38pm CDT | by , in News | Technology News

First Bids in Kodak Patent Auction Are in, and They're Low
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Kodak is a long way from its estimated patent worth

The Wall Street Journal cites sources close to the auction process the claim opening bids in Kodak's patent auction have come in and they're significantly below what codec expected. Kodak has announced that it expected the patents to sell for around $2.6 billion total. The initial bids that come in have been around $150 million to $250 million.

Granted these are only the initial round of bids and if Google and Apple start a bidding war to prevent each other from gaining the patents prices could rise quickly. Kodak is selling off the patents in an effort to emerge from bankruptcy.

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