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Kodak Seeks New Strategy in Face of Losses

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Kodak Seeks New Strategy in Face of Losses

Business

Kodak Seeks New Strategy in Face of Losses

Kodak Seeks New Strategy in Face of Losses

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Eastman Kodak Co. says its losses increased in the second quarter — but the company also announces that it is making big changes. The company, the top maker of photographic film, will outsource the manufacture of most of its cameras to a Singapore-based company.

Analysts are split on whether Kodak has come up with a plan that will guarantee its future.

Investors, who had expected the company to announce a profit for the second quarter, sent its shares to a close below $20 Wednesday.