Kodak to stop making cameras to cut costs

Thu Feb 9, 2012 8:52am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

(Reuters) - Eastman Kodak Co EKDKQ.PK, the inventor of the hand-held camera, plans to stop making digital cameras, pocket video cameras and digital picture frames in the first half of 2012 in a bid to cut costs.

The photography pioneer, which filed for bankruptcy protection last month, said on Thursday that it will instead seek licensees to expand its brand licensing program. It still plans to offer online and retail photo printing, and desktop printing.

Kodak said it will take a charge of about $30 million as a result of the move, which it expects to generate annual operating savings of more than $100 million.

(Reporting By Sinead Carew; Editing by Gerald E. McCormick)

<p>A Kodak Retina camera is seen in a photo store in London January 19, 2012. REUTERS/Stefan Wermuth</p>