Now both tech rivals, Google and Apple are bidding for Kodak’s Digital Patents. Total patents included in this auction are 1,100 patents. Apple paid $150 Million for them while Google glued it to $250 Million. According to Bankrupt Kodak patents could be worth $2.6 billion. This payment would help them to start their operations by repaying creditors. Company’s spokeswoman Stefanie Goodsell said on Monday that “Kodak believes that speculation about the details and potential outcome of the auction is inappropriate.”
Some of the companies that belong to the Google-led consortium include Samsung, LG, and HTC, all of which use Google’s Android platform in their smartphones. The auction officially begins August 8 and a winner will be picked August 13.