Thursday, February 9, 2012
Kodak says it will stop making digital cameras, pocket video cameras and digital picture frames in order to focus on its more profitable businesses.
The storied photography company, which filed for bankruptcy protection last month, says it will phase out those product lines in the first half of this year.
Eastman Kodak Co.'s consumer business will focus on photo printing and desktop inkjet printers.
Kodak says it's working with its retailers to ensure an orderly transition. The company will continue to honor product warranties and provide technical support for the discontinued products.
The moves are expected to result in annual savings of more than $100 million. The Rochester, N.Y., company expects to take a charge of about $30 million related to the decision.