Kodak, the iconic film and camera company that went bankrupt earlier this year, has announced that it will sell off its consumer film, photo kiosks and commercial scanner divisions. The changes mean Kodak will be left selling only inkjet printers to consumers as well as some film to professional customers in Hollywood.
Kodak's exit from the consumer film business marks a sea change in the photography industry. Where ordinary consumers once routinely purchased and developed multiple rolls of film on a regular basis, the digital age has seen the demand for printed photos plummet.
“We have to make some tough choices to build our future and this is one of those choices,” Kodak CEO Antonio Perez said yesterday on a conference call, according to Businessweek. “Kodak’s goal is not simply to emerge but obviously to emerge as a profitable, sustainable company and today’s actions are moving us decisively along that path.”
The photo company hopes to have found a buyer and completed the sale by the first half of next year.