The company has announced new strategies on Thursday in the times of financial issues faced by the company. This new strategy would cause reduction in costs helping the company to re-establish the business.
“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,” said Pradeep Jotwani, President, Consumer Businesses, and Kodak Chief Marketing Officer.
The company is expecting $100 million of annual savings after implementation.