Kodak is Officially Quitting Cameras

When Kodak filed for bankruptcy last month, the media exclaimed “the end of an era”. However, yesterday, Eastman Kodak co. announced plans to officially end its camera business.  The company will remain but “plans to get out of that business in the first half of the year as the bankrupt company looks to cut costs”. “Kodak to shutter camera business” by Sinead Carew of Reuters.com reports the company recognizes that the move will “result in ‘significant’ job losses.”

Previously, the company attempted to end their “20-year sponsorship of the Hollywood Theater that hosts the Academy Awards” before the Oscars to save money but they were advised they were too late to pull out.

The article reports two factors as contributing to the decision. 1. The company focused more on printers than cameras and 2. “the quality of digital cameras in cellphones improved, stand-alone cameras’ relevance became somewhat limited to the higher-end market, where Kodak did not compete in recent years”. Although, I would say the convenience of cell cameras contribute to their popularity rather than quality – digital cameras still tend to have better resolution than phones.

The future plans are to continue focusing on printers, “online and retail photo printing”, “[licensing] its brand to other camera makers”, and their commercial business.

Considering Kodak practically invented the digital camera market, now, we can declare the Kodak era to be done. Their role will now fall back into the background while their brand may or may not continue in the hands of other companies.