Indian company mulling a buy of Polaroid

Polaroid. When I was a kid, it was the most space age company there was. The photograph developed right in your hand. Sure, most of the photos looked like they were taken in a cave, but you didn't have to wait a week to get the pictures of your birthday back from the lab. It was right up there with Space Food Sticks and the Pulsar digital watch.

Now, Videocon, a large Indian conglomerate, is mulling a purchase of the company, according to the Business Standard, a local business publication. A few years ago, Polaroid became a player in LCD TVs. It now sells those, along with DVD players, in stores like Target. Techincally, Polaroid licenses its name to another party, which then organizes all of the contracts and deals with distributors and manufacturers.

The deal, if consummated, would also mean the first major move by an Indian company into the worldwide consumer electronics market.