Kodak to wind down consumer inkjet printer business
29 Sep 2012
Eastman Kodak yesterday said that it will stop selling consumer inkjet printers from next year and eliminate 200 jobs more than previously projected, as part of its restructuring plan under bankruptcy protection.
Kodak also said that it will ask the federal bankruptcy court for more time to put together a Chapter 11 bankruptcy reorganisation plan.
The New York-based company will phase out sales of consumer printers over the next year but continue to sell ink supplies to printer customers, which are manufactured at Eastman Business Park.
Kodak said that exiting the printer business "will significantly improve cash flow in the US beginning in the first half of 2013.''
Kodak, which has already wound up its digital camera business, expects to incur a charge of $90 million related to closing the consumer inkjet printer business.
The iconic photographic film pioneer that invented the roll film way back in 1885, had filed for bankruptcy protection in January. The 131 year-old company was a decade too late in making a transition to the digital age. (See: Photographic film pioneer Eastman Kodak files for bankruptcy protection)