Kodak bows out of digital camera market

Kodak has announced that it will no longer be making digital cameras.

The 133-year-old firm, which entered bankruptcy protection last month, also revealed that it is halting production on video cameras and digital photo frames.

Kodak is shifting its focus towards photo printing, desktop inkjet printers and other markets in a bid to save around $100m (£63m) a year as part its ongoing cost-cutting strategy.

"Today's announcement is the logical extension of that process, given our analysis of the industry trends," said Pradeep Jotwani, president and chief marketing officer at Kodak.

Kodak is working with retailers to ensure a smooth transition, and will continue to honour warranty agreements on discontinued products.

The company fell into financial difficulties last year when it failed to sell a batch of digital imaging patents. Executives warned that bankruptcy protection would be necessary if Kodak failed to find a buyer by the end of last year.

Kodak has struggled to compete in the current digital camera market following advancements in mobile phone technology.

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