Bids come in low for Kodak's digital-imaging patents

Investor groups backed by Apple and Google make offers in the $150 million and $250 million range, far below the expected $2.6 billion, sources tell The Wall Street Journal.

Opening bids for Kodak's digital-imaging patent portfolio from two competing investor groups backed separately by Google and Apple came in far below the $2.6 billion that the troubled company says it is worth.

The photography pioneer received bids from the two groups in the $150 million and $250 million range, people familiar with the auction process told The Wall Street Journal.

Kodak representatives declined to comment on the reported bid range, citing a court confidentiality order.

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(CNET On The Go)