Eastman Kodak has shocked the world today, announcing that it has put an end to its camera business.
By the end of June, Kodak expects to phase out its digital cameras, pocket video cameras, and digital picture frames, the company announced today. The company plans to focus heavily on its current brand licensing and attracting companies that might need some of its patents. Kodak will still offer its online Kodak Gallery service and retail-based photo printing. Its inkjet printers will also remain on store shelves.
“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,” Kodak Consumer Business president Pradeep Jotwani said today in a statement. “Today’s announcement is the logical extension of that process, given our analysis of the industry trends.”