Rochester, N.Y. – There’s speculation the company that gave the world the point and shoot camera may get out of the consumer photography business.MarketWatch reported
if Kodak files for bankruptcy and emerges, “consumers can kiss the remaining remnants of the company’s photographic business good bye.”
There are two reasons some analysts believe Kodak will distance itself from the camera business. First, its cameras, while popular, are not profitable. Second, Kodak is trying to sell its digital imaging patents.
“If they’re going to sell the patents, they should seek to exit the camera business. This way they can focus their energy on the commercial printing and the consumer printing business,” said Mark Kaufman of Rafferty Capital Markets.
Kodak’s inkjet printer is growing and analysts say it’s a bright spot.
“It’s a conclusion of a story in some ways and maybe the beginning of a new story. Kodak would reorganize and reemerge as a different kind of company, maybe as a different kind of business,” said Mark Peterson, CEO of Greater Rochester Enterprise. “It wouldn’t surprise me for them to reemerge as a stronger, maybe much smaller, printer company and do very well in that industry.”
Still, the idea Kodak may no longer make cameras one day is a stunning thought.
“It’s hard to believe. Kodak is a camera company,” said Jim Brennan of Scott’s Photo. “They have been known for that for decades. It’s hard to comprehend.”