Kodak to stop production of digital cameras, framesFebruary 9, 2012 - 19:38 AMT PanARMENIAN.Net - Eastman Kodak Co. said Thursday, February 9 that it will stop making digital cameras, pocket video cameras and digital picture frames, marking the end of an era for the company that brought photography to the masses more than a century ago, AP reported. Founded by George Eastman in 1880, Kodak was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. But the company was battered by Japanese competition in the 1980s, and was then unable to keep pace with the shift from film to digital technology. The Rochester, New York-based company, which filed for bankruptcy protection last month, said it will phase out the product lines in the first half of this year and instead look for other companies to license its brand for those products. Once the products are phased out, Kodak said its consumer business will focus on photo printing and desktop inkjet printers. Kodak said it's working with its retailers to ensure an orderly transition. The company will continue to honor product warranties and provide technical support for the discontinued products. The moves are expected to result in annual savings of more than $100 million. The company didn't say how many jobs would be eliminated as a result of the decision, but did say that it expects to take a charge of $30 million related to separation costs. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. |