Kodak, the company that invented the digital camera in 1975, will be phasing out production of digital cameras, pocket video cameras and digital photo frames before the middle of the year. The company filed Chapter 11 bankruptcy, completed the middle of January. While the company will still manufacture home printers and offer photo-printing and enterprise services, the company will start focusing on their brand-licensing program to generate revenue.
This is a major move for THE name in photography to be giving up on photography products. The decision will cost the company an initial $30 million, but they estimate that it will save the company $100 million annually. Of course, Kodak will continue to honor existing warranties for all products.
This won't be the only changes to the Kodak Corporation. Hit the break to find out the changes.