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One of the most famous photographic companies in the world has decided to permanently discontinue one its primary product lines: the camera. After filing for bankruptcy protection last month, Kodak knew that it needed to make drastic changes to its business model.

The shutter has closed and brought about the end of an era for Kodak.

Kodak Consumer Business president Pradeep Jotwani said in a statement:

For some time, Kodak’s strategy has been to improve margins in the capture device business by narrowing our participation in terms of product portfolio, geographies and retail outlets.

Today’s announcement is the logical extension of that process, given our analysis of the industry trends.

The announcement continued that Kodak would, by the end of June, phase out its digital cameras, pocket video cameras and digital picture frames.

It plans instead to focus on its current brand licensing – and on attracting companies that might be interested in its patents. Currently, it holds over 1 000 digital imaging patents alone.

The company will continue to offer its online Kodak Gallery service, its retail-based photo printing service and its inkjet printers will also remain in production.

Kodak was a forerunner in the camera business, always innovating, and was one of the first to bring handheld cameras to consumers well over a century ago.

It the later years, it began to succumb to the pressure of other digital brand and devices like the camera phone.

Kodak filed for Chapter 11 bankruptcy protection last month but hopes to emerge from this next year. It’s already safeguarded $950 million in debtor-in-possession financing to get it through the process.

[Source: CNET]