Kodak Getting Out of Digital Camera Business

February 9, 2012 Updated Feb 9, 2012 at 1:29 PM EDT

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Kodak Getting Out of Digital Camera Business

February 9, 2012 Updated Feb 9, 2012 at 1:29 PM EDT

In a news release issued Thursday, Kodak said it plans to "phase out its dedicated capture devices business – comprising digital cameras, pocket video cameras and digital picture frames – in the first half of 2012."

According to the Kodak news release:

The company will instead expand its current brand licensing program, and seek licensees in these categories. Following this decision, Kodak’s Consumer Business will include online and retail-based photo printing, as well as desktop inkjet printing. 

“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,” Pradeep Jotwani, President, Consumer Businesses, and Kodak Chief Marketing Officer, said in the news release. 

Read the entire Kodak news release HERE