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Kodak to Stop Making Cameras

Eastman Kodak is getting out of the camera business.

The company announced Thursday that it will stop making digital cameras, pocket video cameras and digital picture frames.

As part of its bankruptcy filing last month Kodak said it would concentrate on area it believes can lead to profitability. The phase out the of the digital camera & frame product lines in the first half of this year is part of the plan.

Kodak will instead look for other companies to license its brand for those products. Once the products are phased out, Kodak said its consumer business will focus on photo printing and desktop inkjet printers.

Kodak said it's working with its retailers to ensure an orderly transition. The company will continue to honor product warranties and provide technical support for the discontinued products.

The moves are expected to result in annual savings of more than $100 million The company didn't say how many jobs would be eliminated as a result of the decision, but did say that it expects to take a charge of $30 million related to separation costs.

You can read the full announcement in the press release on Kodak's website.

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