Kodak to Stop Making Digital Cameras to Cut Costs, Focus on Printers Instead
Eastman Kodak Company has announced that it will cease manufacturing of its digital camera, pocket camcorder and digital photo frame products during the first half of 2012.
The company, who recently filed for chapter 11 bankruptcy and reorganisation, plans to cut three major sectors of its business in order to cut costs and streamline its operations to help it stay afloat.
The news is a great shame, as Kodak was the company that first invented the digital camera, creating the digital image sensor technology that has grown over the past decade to become the high-power cameras we use today.
Kodak spoke of the news via its official UK Twitter page, stating: “Today we announced that Kodak is phasing out digital cameras, video cameras & digital frames in 2012.
“Kodak will continue to honour all warranties and provide support as we phase out dig & vid cams and frames.
“Kodak will focus consumer business on inkjet, online and retail printing,” it said.
Customers will still be able to get their digital prints with Kodak either through ordering online or in stores such as Boots, and the company will also be focussing on its home printer department. Kodak already produces some well-made all-in-one printers such as the Hero 7.1.
At this year’s Consumer Electronics Show in Las Vegas, Kodak unveiled several new digital cameras which indicated a brighter future for the remainder of the year. Alas, the company’s website now indicates that these products may end up being canned in order to save money, which is a major disappointment.
The company hopes to save around $100 million after cutting back in these areas, but will it be enough to save them?