Kodak Bankruptcy
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Kodak Phasing Out Cameras; Jobs In Danger

Updated: Thursday, July 11 2013, 03:06 PM EDT

Rochester, N.Y. – Kodak says it plans to phase out digital cameras, pocket video cameras and digital picture frames in the first half of 2012, it announced Thursday.

Kodak reports 400 employees work in the division. A total of 120 positions, or 30% of the division is based in Rochester. No layoffs have been announced, but the company reports those jobs are in danger.

"For some time, Kodak’s strategy has been to improve margins in the capture device business by narrowing our participation in terms of product portfolio, geographies and retail outlets. Today’s announcement is the logical extension of that process, given our analysis of the industry trends," said Pradeep Jotwani, President, Consumer Businesses, and Kodak Chief Marketing Officer.

Kodak's consumer business will include online and retail-based photo printing, as well as desktop inkjet printing.

The company expects to save more than $100 million by eliminating its camera business.

"They clearly weren't making any money on the camera business and in bankruptcy they have little choice but to get rid of business that aren't making money," said George Conboy of Brighton Securities.

Kodak will continue to honor all related product warranties, and provide technical service for its cameras, pocket videocameras, and digital picture frames.

Wright's Photo in Rochester said it stopped stocking Kodak cameras a while back because people weren't buying them.

But still Mike Wright said it's a sad day for the business.

"I feels like a wake today…such a great company is now being dismantled piece by piece, Wright said."

Kodak says it's working with its retailers to ensure an orderly transition.

The company's continuing consumer products and services will include kiosks, digital dry lab systems, inkjet printers, Kodak apps for Facebook, Kodak Gallery and Kodak camera accessories and batteries.

Kodak filed for Chapter 11 bankruptcy on January 19.

Kodak Phasing Out Cameras; Jobs In Danger

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