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October 1, 2012

Kodak to stop consumer inkjet printers sales in 2013

The company will lay off staff and write down the value of its consumer-printing assets

By CBR Staff Writer

Eastman Kodak is planning to stop selling consumer inkjet printers starting from next year which will cost the company $90m.

The company will lay off staff and write down the value of its consumer-printing assets.

Kodak is now concentrating on selling printing equipment and services to companies, which focuses around its Prosper Press digital printers.

The business is anticipated to bring in $2.5bn in revenue this year, down from $3bn in 2011.

In September this year, the company said it may abandon plans to sell its portfolio of digital imaging patents at an auction as part of its plan to raise money to climb out of bankruptcy.

In August this year, Eastmam Kodak planned to sell its camera-film business and focus to commercial printing as the company plans to scramble out of bankruptcy.

Eastman Kodak had agreed to sell its online photo services business to Shutterfly for $23.8m in March 2012.

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Kodak filed for Chapter 11 bankruptcy back in January, and needs to repay a $950m loan that it obtained to keep operating while in bankruptcy.

Similar to Kodak’s move in August 2012, Lexmark International said that it will stop inkjet printer business and lay off 13% of its workforce to improve its profitability, in face of sliding demand for its consumer-oriented inkjet printers.

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