Shareholders lose faith in Kodak's future

Kodak Hero
Kodak recently launched a range of "Hero" printers
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Shares in iconic photography and printing brand Eastman Kodak have fallen by 25 per cent amid the news that a £103 million loan for "general corporate purposes" has been taken out.

Although Kodak was well known for its film photography technology for over 100 years, it has not made a profit since 2007.

Overall, shares have fallen by 66 per cent this year alone. In 1997 shares in Kodak were valued at $90 (£57), but on Monday had fallen to just $1.74 (£1.20).

Cash flow

Recently, the company has spent millions of dollars investing money into the business, with the recent loan of $160 million (£103 million) said to be worrying investors.

Speaking to Reuters, a spokesman from Kodak, Christopher Veronda, declined to comment on how much cash the company currently had, but pointed out that it had $957 million (£615 million) at the end of June.

In a bid to keep up with current trends for digital, Kodak has expanded its printing market, but finds stiff competition from more established brands such as Canon and HP.

A technology analyst for the Davies Murphy Group told the BBC that one possible lifeline for Kodak was the further sale of some of its patents. Having been in the business for a long time, the company has a rich heritage to trade from, selling around 10 per cent of its portfolio back in July.

Via BBC News.

Amy has been writing about cameras, photography and associated tech since 2009. Amy was once part of the photography testing team for Future Publishing working across TechRadar, Digital Camera, PhotoPlus, N Photo and Photography Week. For her photography, she has won awards and has been exhibited. She often partakes in unusual projects - including one intense year where she used a different camera every single day. Amy is currently the Features Editor at Amateur Photographer magazine, and in her increasingly little spare time works across a number of high-profile publications including Wired, Stuff, Digital Camera World, Expert Reviews, and just a little off-tangent, PetsRadar.