Kodak announced today that it will cease producing digital cameras, pocket video cameras and digital picture frames “to focus its Consumer Business on desktop inkjet, online and retail-based printing—areas that offer the most significant opportunities for profitable growth. Kodak will continue to offer camera accessories and batteries, which are universally compatible with other brands,” a statement on their website said.
The statement also said that it was “likely” that some of the cameras, video cameras and digital frames it announced at CES would not be launched.
Eastman Kodak Co. filed for Chapter 11 bankruptcy protection on January 19, 2012. In its filing, the company reported that it has $6.8 billion in debt and $5.1 billion in assets.
Kodak has struggled for years as the photography business has moved to digital photography.