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Kodak to sell CMOS sensor business
Photography news: 'more pain' for Kodak, as CEO says company has shopped CMOS sensor business and points to more restructuring
Kodak could sell its CMOS sensor business as it continues with cutbacks in its bid to reinvent itself, the company's CEO has said.
The Rochester Democrat and Chronicle, a newspaper based in Rochester, New York, where Kodak's head office is located, quotes Kodak CEO Antonio Perez as stating that the company has been shopping its CMOS image sensor business for the last year as part of a plan to earn $300 to $400 million dollars selling off assets.
Perez said he did not want to sell the CMOS image sensor business in a down economy when it would earn less, but recent improvements in the economy have compelled to seek a buyer.
The comments follow the release of
Kodak's most recent earnings, which showed its profits plunged 95% in the fourth quarter of 2010.
Kodak has said it also plans to restructure its point-and-shoot camera business as it focuses on growing its business in desktop inkjet printing, commercial inkjet printing, packaging printing and workflow software.
http://www.photoradar.com/news/story...ensor-business