Kodak Getting Out of Devices
Kodak marked the end of an era Thursday, as the bankrupt imaging firm announced that it is exiting the capture devices business. The company will no longer manufacturer digital cameras, pocket video cameras or digital picture frames.
The company, which entered Chapter 11 bankruptcy in January, will now license its name and patents, and its consumer business will consist of online and retail-based photo printing, as well as desktop inkjet printing. The company said it has contacted its retail partners about the transition.
The phase-out will take place in the first half of this year. It expects to save about $100 million as a result.