In the wake of its bankruptcy filing last month, Kodak is reportedly ceasing all production of digital cameras, pocket video cameras, and digital photo frames to focus on photo printing products and desktop inkjet printers going forward. This decision was made so the company could focus on the parts of its business that are most profitable, with the moves expected to save the company more than $100 million annually. This phase-out will happen over the first half of 2012, with Kodak working with retailers to ensure an orderly transition; the company will also continue to honor warranties and provide technical support for discontinued products. While it sounds like this decision makes strong business sense for the ailing company, it's still sad to see one of the world's best-known camera brands exit the market.

Update: Kodak just issued a press release containing more details on its new strategy. While the company plans to "phase out its dedicated capture devices business," it also mentions that the company will "expand its current brand licensing program, and seek licensees in these categories." So, we might not have seen the last of cameras bearing the Kodak brand, though it sounds like company itself won't be making the hardware. Kodak also said it would continue to focus on its commercial business segment as well, which the company says makes up about 75 percent of its total revenue.