Kodak ends camera production (update)
February 9, 2012
Eastman Kodak has confirmed that it plans to phase out production of digital cameras, pocket video cameras and digital pictures frames over the next few months in a bid to save $100 million a year.
In a statement the firm said it plans stop output in the first half of 2012, and will instead focus on its brand licensing program, retail photo printing and desktop inkjet printing.
A Kodak spokesman described the move as a logical step ‘given our analysis of the industry trends’.
Kodak, which filed for bankruptcy protection last month, will continue to operate its retail-based photo kiosks and Kodak Gallery – a service that allows people to share their images.
It will continue to make consumer inkjet printers and supply products for photobooks, photo greeting cards and calendars.
‘Upon completion of the phase out, Kodak expects to achieve annual operating savings of more than $100 million,’ added the firm.