Seems Kodak will be going all digital in the near future in the United States, Canada and Western Europe as they announced plans to stop selling traditional film cameras in these markets. Indications are that digital camera sales are likely to overtake traditional film cameras for the first time this year and Kodak has been slowly losing market share for a couple of years now anyway.
Sales of film cameras is still growing in emerging markets such as China and that’s where Kodak will focus attention for that aspect of their business.
“(We) estimate that there are 60 million Chinese consumers who have the purchasing power to participate in photography, but have not bought their first camera,” said Kodak spokesman Charles Smith.
Under Kodak’s new strategy, unveiled in September, it will shift its investments into digital markets with greater growth potential than the waning film market. But film still provides ample revenue for Kodak—over 120 million rolls of film are sold each year industry-wide.
According to estimates by InfoTrends Research Group, global film camera shipments in 2004 will shrink to 36 million units from about 48 million in 2003, while digital camera shipments will rise to 53 million from 41 million units.
So if you’re a fan of Kodak’s traditional film cameras and have been looking to buy a new one then you may want to do it soon.