Polaroid To Abandon Instant Film Products
Like other companies long successful and entrenched in the film-making business, Polaroid has had its ups and downs in the digital age. It filed for Chapter 11 protection in 2001 as it tried to pursue a digital imaging future and was acquired by a private investment firm called the Petters Group in 2005. They stopped making instant film cameras for consumers a year ago.
As a result of this latest decision, the company is closing two production facilities in Massachusetts and laying off about 150 workers.
Now the company's name and famous logo appears on digital cameras, photo printers, and even LCD TVs. Its inkless digital photo printer introduced at CES has captured some early praise, although the market for home photo printers is uncertain.
From Bloomberg and The Boston Globe.
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