Tuesday, March 9, 2004
Kodak Starts to Buy Market Muscle in an Effort to Transform Itself
Posted by Jason Dunn in "NEWS" @ 09:30 AM
"Kodak, the most famous name in photographic film, yesterday warned that its profits this year would be lower than expected as it announced deals to buy another two digital printing companies to grapple with changing market trends. The company is undergoing a painful transition into digital photography which is costing thousands of jobs.
It said yesterday it would take over a digital printing systems joint venture from Heidelberger Druckmaschinen of Germany and also acquire a black and white digital printing business from the same firm. Kodak will pay up to $150m (£81m) for the businesses over two years and could make additional payments over a five-year period if certain sales targets are reached."
Kodak, seemingly caught unaware by this whole "digital camera" thing, is trying desperately to transform itself as a company to avoid fading away like a bad ink jet print from 1998. What's strange is that my first digital camera was a Kodak - the DC265 - and that was back in 1999. So it's not like Kodak hasn't been producing digital cameras for as long as the other major brands...so what happened? The article notes that in North America, Kodak was the #1 selling digital camera brand over the Christmas buying season, which surprised me. Looks like Kodak has some power in those billion-dollar muscles yet!
It said yesterday it would take over a digital printing systems joint venture from Heidelberger Druckmaschinen of Germany and also acquire a black and white digital printing business from the same firm. Kodak will pay up to $150m (£81m) for the businesses over two years and could make additional payments over a five-year period if certain sales targets are reached."
Kodak, seemingly caught unaware by this whole "digital camera" thing, is trying desperately to transform itself as a company to avoid fading away like a bad ink jet print from 1998. What's strange is that my first digital camera was a Kodak - the DC265 - and that was back in 1999. So it's not like Kodak hasn't been producing digital cameras for as long as the other major brands...so what happened? The article notes that in North America, Kodak was the #1 selling digital camera brand over the Christmas buying season, which surprised me. Looks like Kodak has some power in those billion-dollar muscles yet!
