Kodak dropping out of the consumer inkjet printer business in 2013

More gloomy news from Kodak: the company just announced that it will stop selling consumer inkjet printers in 2013 and instead focus its efforts on commercial printing products. This decision hardly comes as a surprise: Kodak filed for Chapter 11 bankruptcy earlier this year and attempted to auction off a stockpile of patents valued at up to $2.6 billion. The company stated on Friday that it expects to take a $90 million hit due to its floundering inkjet business. Kodak's garage sale attracted interest from unlikely alliances in the form of Apple and Microsoft versus Google and Samsung, but reportedly only reeled in disappointing offers under the $500 million mark. Hoping to rebound next year as a "lean," mean, successful machine, we'll just have to wait and see what develops for this fallen photography frontrunner.

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Kodak dropping out of the consumer inkjet printer business in 2013 originally appeared on Engadget on Fri, 28 Sep 2012 15:50:00 EDT. Please see our terms for use of feeds.