Kodak Responds to Sept. 25 Investor's Meeting and the Resulting Reports and Rumors
Friday, September 26, 2003- Eastman Kodak Company intends to maintain its robust participation and leading position in every segment of the traditional film photography market - consumer, advanced amateur and professional. The company's recent discussion with investors acknowledged the ongoing decline of the worldwide film market and identified a variety of growth opportunities in the digital arena - opportunities Kodak is pursuing aggressively. It also made plain that, for some time to come, Kodak's film and paper business will remain the company's largest source of revenue and cash.That means Kodak will continue to offer world-class photographic films, chemicals and papers, both to make money to fuel its new business ventures and to satisfy the still-substantial - if shrinking - customer demand for them. Explicit in the strategy presented to investors is a strong, ongoing commitment to meet the unique requirements of a diverse family of film photographers - from snapshooters recording family memories, to hobbyists expanding their skills, to working professionals who earn a living from the images they take.
Far from opting out of the traditional photography segment, Kodak is managing this portion of its business to generate the most value possible for itself and its vast customer base. Over the last two years alone, the company has introduced no fewer than eight new or upgraded films, and a variety of durable, high-quality papers for the consumer and professional markets. R&D spending continues. In the midst of digital's growing popularity, the company recognizes that most pictures today are still captured on film. Kodak fully intends to serve that sizeable market and offer quality photographic films, chemicals and papers for years to come.
