Kodak to stop making digital cameras

9 Feb 2012

Kodak will reportedly stop making digital cameras, video cameras and digital picture frames as it tries to make its business more profitable after it filed for bankruptcy protection last month.

The Associated Press reports that Kodak said it would phase out all of these product lines in the first half of 2012. Instead, its consumer business will focus on photo printing and desktop inkjet printers.

The company said it was working with its retailers to make the transition as smooth as possible and will honour all product warranties and provide technical support for the items. It hopes to make annual savings of more than US$100m in the process.

Last month, Kodak filed for chapter 11 bankruptcy protection and said it would continue to operate as normal during this filing in a bid to restructure the company.

The 131-year-old company once sold 90pc of film across the globe, but struggled as the popularity of digital photography arose.

It hopes to make money by selling off some of its IP, resolving legacy liabilities and focusing on more valuable business lines. It aims to complete the filing by 2013 to become a leaner digital imaging and material science company.

Since 2003, it has closed 13 manufacturing plants, 130 processing labs and cut 47,000 jobs.