Kodak Sets Out To End Line Of Consumer Inkjet Printers
Kodak inkjet printer lovers will soon find themselves out of luck. Kodak, in response to its bankruptcy organization, is ending its line of consumer inkjet printers in 2013.
Kodak recently made the announcement, saying its primary focus was on selling printing, packaging and other amenities to companies. The company said it would continue to sell the consumer printer ink and projected it would have a tremendous improvement in its cash flow come the first part of 2013.
Kodak’s Chief Executive and Chairman Antonio M. Perez said the company is progressing well from Chapter 11, taking important actions to decrease costs, sell possessions, restructure the core businesses and simplify the organizational arrangement.
Perez is a former Hewlett-Packard executive who focused primarily on the consumer inkjet printers for Kodak’s comeback when he came to the company in 2003 although Wall Street analysts were skeptical of its turnaround. The Jan. 19 filing for bankruptcy forced some serious changes to be made at Kodak.
Besides dropping its line of consumer inkjet printers, Kodak is also dropping its digital camera line and closed the sale of Kodak Gallery, an Internet photo-sharing business. It also announced in August that it would be selling the consumer film business, which feature the well-known yellow boxes that made Kodak so popular.
Kodak is also set to dismiss 3,900 employees from its payroll by the end of the year, which would be a reduction of 23 percent.
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