The Freeland File
Aerospace & Defense
Global Market Data
Lucy P. Marcus
David Cay Johnston
The Great Debate
Jack & Suzy Welch
Macro & Markets
Lipper Awards 2012
Personal Finance Video
France hits rich and business to slash deficit
Minneapolis police probe rampage that killed 5, including gunman
China seals Bo's fate ahead of November 8 leadership congress
Israelis see no Iran war this year after Netanyahu's speech
One certain forecast in U.S. poll dispute: more acrimony ahead
Netanyahu to press for Iran ”red line” in U.N. speech
Iran ready to defend against Israeli attack: Ahmadinejad
Egypt Salafi urges U.N. to criminalize contempt of Islam
Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption
The war on polio
Worldwide cases of polio have fallen 99 percent since 1988. Slideshow
Festival for Ganesh
Ganesh, the deity of prosperity, is honored in a festival by the sea. Slideshow
Kodak to stop selling inkjet printers from 2013
"Titanic" effects creator Digital Domain bankrupt, sale agreed
Tue, Sep 11 2012
Eastman Kodak to cut more jobs
Mon, Sep 10 2012
Analysis & Opinion
Small businesses likely to benefit from patent law overhaul
Fri Sep 28, 2012 11:25am EDT
(Reuters) - Eastman Kodak Co said it plans to stop selling inkjet printers from 2013 as it winds down most of its consumer businesses and focuses on commercial printing.
Printer makers are struggling with falling sales as companies cut costs and people increasingly use mobile devices to take snaps and share them digitally.
Lexmark International Inc said last month that it will stop making inkjet printers and focus on its more profitable imaging and software businesses.
Kodak, which has already shuttered its digital camera business, said on Friday it expects to incur a charge of $90 million related to the wind-down of the inkjet business.
The company will, however, continue to sell ink to existing customers of inkjet printers.
Kodak, which filed for bankruptcy earlier this year after struggling to adapt to the digital age, also said it received "significant interest" from suitors for its printing kiosks and scanner businesses.
The company said it expects to cut 200 more jobs, adding to the 1,000 announced earlier this month. It has cut 2,700 jobs so far this year.
Kodak, which once employed more than 60,000 people, expects to emerge from bankruptcy in 2013 as a much leaner company. The latest jobcuts will reduce its workforce to 13,100.
The company said it was still in talks to sell its patents, estimated to be worth between $2.2 billion and $2.6 billion, and that it will submit a motion to a bankruptcy court to extend its right to file a reorganization plan until February 28, 2013.
Kodak said earlier this month that it may abandon efforts to auction its 1,000 digital imaging patents, and instead set up a new licensing company to help repay creditors.
According to media reports, Kodak received only sub-$500 million bids from investor groups, including Apple Inc and Google Inc.
(Reporting by Sayantani Ghosh in Bangalore; Editing by Saumyadeb Chakrabarty)
Related Quotes and News
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Be the first to comment on reuters.com.
Add yours using the box above.
Back to top
New York Legal
Support & Contact
Connect with Reuters
Our Flagship financial information platform incorporating Reuters Insider
An ultra-low latency infrastructure for electronic trading and data distribution
A connected approach to governance, risk and compliance
Our next generation legal research platform
Our global tax workstation
About Thomson Reuters
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.