Kodak eyes faster digital growth
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Kodak enjoys a rise in profits thanks to strong sales of digital cameras but its traditional film business continues to struggle.
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(InfoWorld) - As part of a four-year turnaround plan, Eastman KodakÂ expects to cut 5,000 to 7,000 jobs by the end of 2007 in an effort to reduce its administrative overhead and boost profits from digital photography instead of standard film, the company told investors Thursday. Kodak leaders had already cut 1,200 jobs during the fourth quarter of 2006, bringing the total jobs lost to 23,400 since the company first announced its restructuring plan in January 2004. By the end of this year, that total could reach 30,000, nearly half of the company's size in 2003. The company has already cut excess jobs from its manufacturing division, and will trim the remaining jobs from its selling, general and administrative unit, Kodak Chief Financial Officer Frank Sklarsky said in a release. The move will reduce administrative overhead from Kodak's current level of 18 percent of revenue to just 14 percent to 15 percent. The company has also slashed costs by announcing Jan. 10 it would sell its 8,100-person medical imaging and health-care IT division to the Canadian firm OnexÂ for $2.55 billion. That deal is expected to close in the first half of 2007. On the revenue side of its books, Kodak hopes to boost income through new products like its consumer inkjet printers, image sensors and picture kiosks, said CEO Antonio Perez. The company will also draw $250 million in revenue by licensing its intellectual-property patents this year, he said. KodakÂ introduced a line of inkjet printersÂ this week to compete with Hewlett-Packard and Xerox. Kodak will target consumers and home-office users by selling replacement ink cartridges at about half the price of its competitors -- just $9.99 for black ink and $14.99 for five-color ink. Likewise, Kodak will sell a range of printers priced below $200. Also on Thursday, Kodak announced it would partner with MozillaÂ to improve Kodak's online photo gallery by allowing users to access it from Mozilla's Firefox Web browser. The companies hope to generate more income from the 83 million U.S. users who are predicted to upload, share and print their photographs by 2010. Users can now download the new tool. Â
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Photography company Eastman Kodak Co.  EK.N on Wednesday raised its growth forecast on digital  products and services, such as cameras and medical imaging, key  areas it is depending on to offset rapidly declining sales in  its traditional film business.
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Eastman Kodak Co. EK.N, the world's  top maker of photographic film, said Wednesday its  third-quarter profit rose, helped by the sale of one of its  businesses and growth in its digital business, but declines in  its traditional film segment held back revenue.
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Eastman Kodak Co  said on Wednesday its fourth-quarter profit rose, driven by sales of digital products such as inkjet printers.
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Eastman Kodak Co.EK.N on Wednesday  said fourth-quarter sales of its digital photography products  rose 40 percent, sending shares up on evidence of the early  success of its move away from film.
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Eastman Kodak Company and IBM have banded together to sharpen the vision of image sensors designed for use in digital still cameras and camera phones. The collaboration marries Sony's complementary metal oxide semiconductor (CMOS) processing with Kodak's existing image sensor technologies in an attempt to sow a new breed of CMOS image sensor (CIS) devices that are capable of matching the image quality of charge-coupled devices (CCDs). Kodak and IBM will work together to develop as well as manufacture the sensors.
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Eastman Kodak's new high-sensitivity image sensor translates to less noisy pictures.
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Eastman Kodak Co., boosted by the sale of a remote sensing business and gains in digital photography, recorded a sharply higher profit in the third quarter and beat Wall Street forecasts by a wide margin.
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Blog: Kodak responds to consumer love of portability, large LCDs and enough megapixels for wall prints.
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Eastman Kodak Co. EK.N on Wednesday  posted a fourth-quarter loss on restructuring costs,  but  strong sales of digital photography products showed its  strategy shift is taking root.
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Nikon Corp. expects double-digit shipment  growth in compact digital cameras during the next business year  and aims to increase its global market share to about 10  percent, helped by the launch of new models.
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ROCHESTER, N.Y. -- Eastman Kodak Co. posted its first quarterly profit in more than two years on Wednesday as it enters the final stretch of a tough transformation into a digital photography and commercial printing company.
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Eastman Kodak Co. and Lexar Media Inc. have expanded digital media card offerings with new Kodak picture cards. Lexar will distribute and market Kodak xD-Picture Cards through both companiesâ global retail
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Eastman Kodak Co. , the world's top maker of photographic film, on Wednesday said its third quarter profit rose, boosted by discontinued operations. Sales were boosted by the weaker dollar and its key growth area of digital photography.
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Eastman Kodak Co.  said on  Thursday it expected to cut up to 3,000 additional jobs and  complete a three-year restructuring program by the end of 2007  that it says will help sustain profitability.
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Eastman Kodak Co., the world&#39;s biggest photographic company, said it will shed almost 900 jobs in Europe to concentrate on the digital market and cut costs as demand for traditional film products declines.