Kodak ceases production of photographic equipment

Kodak ceases production of photographic equipment

The company Eastman Kodak Co, which created a portable camera and let the world see the first pictures from the moon, plans to cease production of digital photo and video cameras, pocket video cameras and digital picture frames in the first half of 2012 in order to reduce costs.

At the same time, the company will complement its package of licenses within the branded licensing program and store operations in the field of equipment for the printing, according to Reuters.

Expenses for phasing out the production of the above amount to about $ 30 million.

Recall that in January the company announced bankruptcy by filing an application for protection from creditors.

Once Kodak has been the industry leader, but the company failed to adapt quickly to more advanced technologies. The company was founded by George Eastman in 1880 in New York to create the photographic plates.