Eastman Kodak, the company which was once the best in technology, has decided to move out of the primary business constituting making of making digital cameras, pocket video cameras and digital picture frames.
“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.
The company will work on the new plans in the first half of this year in order to reduce business costs. Kodak expects that there will be savings of $100 million in annual operating savings after implementing the new strategy.
Source:
SayPeople
Via:
Kodak
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