This week, they decided to cease the production of digital cameras, pocket video cameras and digital picture frames and will “expand its current brand licensing program, and seek licensees in these categories.” Kodak will continue to honor all product warranties and provide technical support for these devices.
Pradeep Jotwani, President, Consumer Businesses, and Kodak Chief Marketing Office said:
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. Today’s announcement is the logical extension of that process, given our analysis of the industry trends.
With this decision, Kodak hopes to save $100 million annually. Last month, Kodak filed for bankruptcy, having $6.8 billion in debt.
It’s very sad to see one of the best camera brands ceasing some of their products. Perhaps in the future, they will manage to recover and be able to surprise us again with their innovations. We can give them a little of our help and continue to buy their products: inkjet printers, camera accessories, batteries and so on.
Hold on Kodak!