ROCHESTER, N.Y. -- Eastman Kodak Co., which invented the digital camera in 1975, is getting out of the digital camera business.
The bankrupt printing and imaging company announced Thursday that as part of its efforts to focus on profitable lines of business, it plans to get out of the digital camera, pocket video camera and digital picture frame business by July.
While Kodak itself may no longer offer these products, Kodak-brand cameras may continue on the market, as Rochester-based Kodak said it would explore licensing its name to another company offering such gear.
Kodak had been pulling back on its digital-camera business well before now. Last year, the company announced a strategy of focusing only on profitable areas for its digital cameras, meaning it would cut the number of products and the locations they were offered.
"Today's announcement is the logical extension of that process, given our analysis of the industry trends," Pradeep Jotwani, president of Kodak consumer business, said in a statement.
Kodak estimates the move will save it $100 million annually.
With digital-capture devices out of the picture, Kodak's consumer side of the business will include its desktop inkjet printer line, its online Kodak Gallery, its retail store-based photo kiosks and labs, and its camera film and photographic paper business.
The company also will continue to offer Kodak-brand camera accessories and batteries.
Kodak said it plans to continue to honor product warranties and provide technical support and service.
USA Today