SEARCH
« Feds Announce $25B Foreclosure Abuse Deal | Main | Jobless Claims Fall to 358K to Kick Off February »
Thursday
Feb092012

Kodak to Stop Making Digital Cameras This Year

Daniel Acker/Bloomberg News(ROCHESTER, N.Y.) -- Say goodbye to capturing Kodak moments.

On the heels of its Chapter 11 bankruptcy filing, Eastman Kodak Company announced on Thursday it will stop making digital cameras during the first half of this year to focus on more profitable areas of the company.

In a statement, the company said it, "plans to phase out of the market for dedicated capture devices -- digital cameras, pocket video cameras and digital picture frames -- during 2012 to focus its Consumer Business on desktop inkjet, online and retail-based printing: areas that offer the most significant opportunities for profitable growth."

Kodak says it will continue to offer camera accessories and batteries that are compatible with other brands.  The company will also, "continue to honor all related product warranties, and provide technical support and service for its cameras, pocket video cameras and digital picture frames."

Thursday's announcement comes after the company filed for bankruptcy protection on Jan. 19 to, “bolster liquidity in the U.S. and abroad, monetize non-strategic intellectual property, fairly resolve legacy liabilities, and enable the Company to focus on its most valuable business lines.” 

Copyright 2012 ABC News Radio







ABC News Radio