After Purchasing Lexmark’s Inkjet Business, Funai Electric to Also Sell Kodak-Brand Small Office and Consumer Printers Worldwide
February 9, 2015 – Funai Electric of Osaka, Japan, a global supplier of consumer electronics, reports that it’s entered into a licensing agreement with Eastman Kodak Company under which Funai will supply, market, sell, and service Kodak-brand consumer and small office printers and their related consumable supplies worldwide.
In September 2012, Kodak announced that it was exiting the consumer-printer inkjet business (see story here). The decision was part of Kodak’s reorganization as it entered bankrupcy protection in 2012. After reorganization, Kodak emerged from bankruptcy protection in September 2013.
In April 2013, Funai Electric – which had been manufacturing inkjet printers for Lexmark International for 16 years – acquired Lexmark’s printer-related product’s patents, including ink-cartridge patents, product-development technologies, and an ink-cartridge factory, for $100 million (see story here). Funai operates a former Lexmark product-development center (Funai Lexington Technology Corporation) in Lexington, Kentucky, and has offices and facilities throughout the world in Japan, Asia, Europe, and North and Central America. It manufactures and sells inkjet printers and All-in-Ones, LCD TVs, DVD/BD-related products, receiver-related products such as antennas, and audio equipment.
For the most recent nine months of its fiscal year, Funai reported net sales of 174 billion yen, down 6.4 percent year-over-year. operating income of 1 billion yen, up 218.5 percent year-over-year, and net income of 4 billion yen, up 126.8 percent year-over-year.
The firm says it plans to build on the strength of the 120-year-old Kodak brand name. It will manufacture and sell consumer and small-office printers – presumably inkjet printers – and their related consumable supplies under the licensing agreement beginning in its fiscal year ending March 31, 2016.
For its part, last week, Kodak reported some other good news – it had finalized an agreement under which it’ll be supplying motion-picture film to six major Hollywood film studios: 20th Century Fox, Walt Disney, Warner Bros. Entertainment, NBC Universal, Paramount Pictures, and Sony Pictures for their movie and television productions.
- April 2013: FUNAI ELECTRIC ACQUIRING LEXMARK’S INKJET BUSINESS FOR $100 MILLION
- September 2012: KODAK BAILS ON CONSUMER INKJET BUSINESS