The Change Mariner

Kodak to Stress Digital Business

New York Times:

The Eastman Kodak Company, officially acknowledging that the era of soaring sales and gushing profits from film is gone, said yesterday that it would concentrate on bolstering its digital businesses and would cut its dividend by more than two-thirds to finance the effort.

The company said at a meeting with analysts that sales, which were $12.8 billion last year, would be $16 billion by 2006. But it added that much of the growth would come from acquisitions and that an ever-shrinking percentage would come from conventional photography.

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