Kodak announced bankruptcy in January and filed for protection after failing to raise funds for losing business and focus will be shifted to its core consumer business. According to the latest news, Kodak will take a $30 million charge to exit the digital camera, pocket video camera and digital picture frame business in the first half of 2012.
Further to this announcement, all existing products’ warranties would remain valid and company continues technical support for already sold cameras and digital picture frames.
Kodak’s estimation is to save $100 million a year from this transition in their business model. They will expand its current brand licensing program and seek additional licenses.