Kodak emerges from bankruptcy

Eastman Kodak has announced it will successfully emerge from bankruptcy as a smaller and more efficient company.

Eastman Kodak, once the world's leading company in the camera market, earned court approval for a plan to exit bankruptcy and transform to a smaller digital-imaging company, the web portal bug.hr reports.

This is the end of a 1.5-year process that started in January 2012, when high expenses and late entrance to the digital market brought this company to the brink of disaster.

With this court approval, Kodak will most likely be saved from collapse.

As people at this company say, Kodak will continue to operate in the digital market with a smaller organizational structure and stronger financial indicators.

Most of the company's assets have already been sold, and so has the consumer electronics division, meaning that Kodak will focus on digital printing technologies and flexible packaging for consumer goods in the future.