Today popular photography company Kodak announced that it will stop making digital cameras, video cameras and digital picture frames in order to focus on other areas of the business following its recent bankruptcy protection filing.
Despite inventing the digital camera, Kodak has been forced into the big move after revealing that it will save the company somewhere in the region of $100 million. On top of its long list of patent sales, it’s hoped the move will save the iconic brand and instead its focus will move to online and retail-based photo printing, as well as desktop printing.
Pradeep Jotwani, President of Consumer Businesses and Kodak’s Chief Marketing Officer, said:
“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.”
For those who already own a Kodak camera, the company insists that it will continue to honour warranties and provide technical support for all of its products both past and present.
By Becca Caddy | February 9th, 2012