Kodak to stop selling camera film
Kodak to shed Personalized Imaging and Document Imaging divisions, patent sale still proceeding
Kodak has announced plans to sell its Personalized Imaging and Document Imaging businesses, which will mean the end of Kodak still camera film and photo paper.
The company was founded on consumer photographic products, 130 years ago, but it will now try to sell the businesses, which include still cameras, photo papers, souvenir photo products at theme parks, scanners and picture print-out kiosks at stores.
Kodak has already exited the digital camera business, and is seeking a buyer for a raft of patents that it holds related to digital imaging, as the company tries to return to profitability from bankruptcy protection.
The move will see Kodak continue to manufacture printers, cinema film stock and chemicals.
Kodak said in a statement: "Our company was formed more than 130 years ago around consumer photography, and it has been the core of our business for most of those years. It is also important to note, however, that our brand is strong in commercial markets. We have worked over the past several years to grow our presence in the commercial area, which now represents more than two-thirds of our sales.
"We will ensure that our customers continue to enjoy the same great products, services and support that they have come to expect from Kodak. We will also ensure that the potential buyers share our commitment to serving customers."
The sale of 1,100 patents related to digital imaging is still proceeding, Kodak said, although no decision has been made as of yet, and the company has stated it may retain the portfolio as an "alternative source of recovery for creditors".
A consortium of buyers, including Apple, Google, Samsung, LG, HTC and others are reportedly interested in the portfolio, according to the Wall Street Journal, but its sources say the consortium is only offering around $500m, one fifth of Kodak's estimated value of $2.6bn.