Eastman Kodak posts more losses though digital sales gain

Eastman Kodak posts more losses though digital sales gain

Eastman Kodak is the world’s largest photography company but they are apparently not doing great financially. The company posted its sixth straight loss as they suffered from excessive costs of restructuring and raw material. Kodak however made gains in digital sales but it was the only good thing about their revenue report.

Kodak is also considering on selling their health-imaging unit which is not doing well either. Kodak’s first-quarter net loss widened to $298 million. This is worse than the losses of $146 million they posted in the same quarter last year.

This makes the current situation the longest unprofitable streak for the company in the last nine years. They also have plans to eliminate as many as 25,000 jobs. They continue to lead in the US market though they are the third worldwide behind Canon Inc. and Sony Corp. in camera sales.