HP and Kodak form digital imaging joint venture

17 Jun 2002

Eastman Kodak and Hewlett-Packard (HP) have formed a global joint venture company that will develop retail photofinishing solutions to give a wide range of digital-imaging capabilities for both traditional photographic film and digital files.

The new company will combine HP's expertise in thermal inkjet technology and digital imaging with Kodak's experience in traditional and digital photographic technology. Both companies will bring high-resolution scanning and image science to develop compact, lower-cost digital photofinishing equipment designed for use in a wide range of retail locations.

The two companies expect the joint venture to lead the development of an new business category-digital inkjet photofinishing. This will include the ability to print pictures on a variety of different media and remotely send digital files for processing at a retail location and should allow consumers to share photos quickly and easily with family and friends around the world.

The company will be owned equally by Kodak and HP and is expected to generate between USD 500 million and USD 1 billion in sales by 2005. It is expected to begin introducing products in 2001.