Eastman Kodak is moving out of the digital camera business
Eastman Kodak Co., the digital camera inventor who applied for bankruptcy protection last month, has announced on Thursday that it will stop making digital cameras, pocket video cameras and digital picture frames, from now while facing various business issues. With this strategy, the company has focused on cutting the costs of business as the company is expecting annual operating savings of more than $100 million.
The company will work on new plans in the first half of 2012. However, it will give technical support and services for its cameras and digital picture frames.
Kodak has started to work on its current brand licensing program while finding licensees in these categories. The company has now the business of online and retail-based photo printing and desktop Inkjet printing. Furthermore, the company has Commercial Businesses including “Digital and Functional Printing, Enterprise Services and Solutions, and Graphics, Entertainment and Commercial Films units.”
“For some time, Kodak’s strategy has been to improve margins in the capture device business by narrowing our participation in terms of product portfolio, geographies and retail outlets. Today’s announcement is the logical extension of that process, given our analysis of the industry trends,” said Pradeep Jotwani, President, Consumer Businesses, and Kodak Chief Marketing Officer.
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