AFTER 60 YEARS POLAROID CALLS IT QUITS

[Anonymous]

After 60 years, Polaroid quits instant film business
feb 08 BOSTON – Polaroid says it’s trying to reinvent itself, so it’s getting
out of the very business it became known for — instant pictures.

The company is dropping the technology it pioneered long ago now that digital photography has made it all but obsolete.

Polaroid is cutting 450 jobs and closing factories in Massachusetts,
Mexico and the Netherlands as it focuses on other ventures — like
Polaroid-branded electronics and a portable printer for cell phone
images.

This year’s closures will leave Polaroid with 150 employees at its
headquarters near Boston. Thirty years ago, the company had 21,000
employees.

Sales for traditional camera film have been dropping about 25 to 30%
a year, and analysts say instant film likely has been falling just as
fast — if not faster.

The company stopped making instant cameras over the last two years. The film will be available through next year

[Author]

February 9, 2008 at 4:37 PM