Polaroid Out of Instant-Photo Biz

It will make enough film to last through '09, then turn focus to digital
By Matt Cantor,  Newser User
Posted Feb 8, 2008 7:40 PM CST
A Polaroid Corp. facility is seen in Waltham, Mass. Friday, Feb. 8, 2008. The company that pioneered instant photography is getting out of the film business to focus on digital imaging. Polaroid says...   (Associated Press)
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(Newser) – The Polaroid photo company, whose familiar white-bordered snapshot has become an "icon," is leaving film behind to zoom in on digital equipment, Bloomberg reports. The Massachusetts company was founded in 1937 and in 1948 released the first instant camera, pulling in huge profits—but with the popularity of digital cameras, Polaroid has faced “a technologically driven decline,” said COO Tom Beaudoin. 

Though plants will close in several countries, Polaroid hasn’t forgotten its faithful customers. “We’re trying to help what have been extremely loyal Polaroid customers to make our film categories last as long as we can,” Beaudoin said. The company will make enough film to last until 2009, and will license its technology to third-party companies for serious shooters.