Kodak announces an end to RnD on consumer films

AMSTERDAM -- Reuters reported that Eastman Kodak Co. had announced

on Thursday that it will not be making any more significant

investments in the development of traditional consumer films.

It will widen its range of ink-jet printers and focus on digital products, competing with such companies as Epson, Canon, and Hewlett-Packard. Kodak also announced that it will close about $1 billion worth of other business lines, including the slide carousel business.

 

The company said that it will continue to manufacture private-label film, which it sells overseas under non-Kodak brand names. The planned changes will increase its revenue by five to six percent, starting next year, the company said.

 

In recent years, Kodak has been expanding into digital still cameras and

has been investing in its professional digital printing businesses --

for example, in health care, where it competes with Xerox.

 

More information concerning the new strategy will be revealed today

at an investor meeting in Sweden.

Marc, thanks for the post, which is important news. I did rewrite it, however, so as not to have Reuters' verbatim text on the site.

Sorry about that, Brian--I didn't mean to have to make you edit. :-(

Non-archive discussion here:

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