After many years of being the premiere manufacturer of camera film, Eastman Kodak has finally decided to quit the still photography business.
The company announced that it was planning to sell off a large section of businesses, including more than 100,000 photo kiosks globally as well as its professional and consumer still camera film operation. “These are not easy decisions,” CEO Antonio M. Perez said, adding that the decision was motivated partly by the necessity of satisfying creditors of the bankrupt company. The sale follows Kodak’s declaration of Chapter 11 bankruptcy filed in January and its February announcement that it was closing its digital camera business.
