Kodak, which is credited with inventing the digital camera in the mid ‘70s, has announced it will stop making this device, along with digital photo frames. The company said it hopes to phase out these products by mid-2012.
It does, however, plan to license its name to other manufacturers as Kodak tries to avoid bankruptcy. Just like the video game industry, the market for digital cameras has shrunk significantly thanks to smartphones, tablets and apps.
We hate to be a downer, but we bet it’s safe to say we’re going to hear a lot more whispers about camera manufacturers and bankruptcies as smartphone and tablet cameras become more and more sophisticated.