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Wednesday, November 01, 2006

Digital Spells Red Ink for Kodak

From BBC News

Struggling U.S. camera company Eastman Kodak has returned its eighth quarterly loss in a row as it battles to fully adapt to the digital age.

However its shares climbed 4% as July-to-September losses narrowed to $37m (£18.4m) against $282m in the previous three months.

Kodak now expects a $400m–$600m loss from its continuing business in 2006, including restructuring costs.

These include the axing of 27,000 jobs—largely in film manufacturing.

Not enough?

Despite the cutbacks—which will see Kodak employ 50,000 people globally, against a peak of 145,800 staff in 1998—some analysts say not enough is being done....




Blogger John said...

Interesting that it is Kodak's sensor that seems to be getting accolades, albeit indirectly, in the reviews of the Leica M8 that are now proliferating on the internet. One hopes that high quality products will eventually translate into profitability although there are undoubtedly many examples where the latter has not followed from the former.

12:14 AM  

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