Following a Chapter 11 bankruptcy filing last month, Kodak today announced that it plans to exit the digital camera business, a market that it arguably created, sometime in the first half of this year. Alongside the phasing out of Kodak digital cameras, pocket video cameras and digital picture frames will also be axed. "Kodak will instead expand its current brand licensing program, and seek licensees in these categories. Following this decision, Kodak’s Consumer Business will include online and retail-based photo printing, as well as desktop inkjet printing," the struggling company says.
Kodak also states that it has already informed retail partners of the transition, and will continue to honor any warranties and provide technical support to customers.
The company plans to save more than $100 million once the division is axed within the next six months.