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Tuesday, February 14, 2012

Kodak to Stop Making Digital Cameras

 Photography giant Kodak has said it will stop making digital cameras in the next six months, a media report said. The 130-year-old Eastman Kodak, which invented the digital camera in 1975, has now said it will try to licence its brand to other camera manufacturers, the Daily Telegraph reported. Kodak has filed for bankruptcy protection, having lost almost 90 percent of its market value in 2011. The daily said the company struggled to adapt evan as digital photography became more popular with consumers. First, the company watched demand for traditional photographic film collapse. It stopped manufacturing film cameras in 2004 and made its final roll of 35mm colour film in 2009. It also saw smartphones eat into the lower end of the digital camera market. Just six years ago, Kodak was one of the three leading digital camera makers in the world. Kodak's chief executive and chairman Antonio Perez has reportedly decided that the company's future lies in the digital printer business.