Kodak intends to produce inkjet printers for consumers as part of a corporate overhaul that will focus the company's efforts on digital printing markets, Kodak plans to announce shortly.
Kodak will outline its digital technology strategy in the commercial, consumer and health imaging markets at an investor meeting in New York on Friday. The move will put Kodak in direct competition with the likes of Hewlett-Packard Co. (HP), Xerox Corp., Canon Inc. and Seiko Epson Corp.
Representative for Kodak could not immediately be reached for comment.
Within the next three years, Kodak plans to spend up to US$3 billion on investments and acquisitions to broaden its portfolio of digital products and services. Furthermore, Kodak will no longer make significant long-term investments in traditional consumer film, the company said.
With its digital technology focused, diversified business portfolio, Kodak has set a revenue target of US$16 billion by 2006 and $20 billion by 2010, the company said.
Kodak has been addressing a consumer shift from film to digital photographs, and already runs an Internet photo business and makes digital cameras. Shortly after launching new digital consumer products, Kodak last May dissolved its joint venture company with HP, Phogenix Imaging LLC, which provided digital minilabs for retail photography stores.
By 2008, Kodak intends to be producing products and services in such markets as commercial workflow management and mobile imaging, flat-panel and flexible film displays, the company said.