Eastman Kodak Shaves Digital Camera Prices

Faced with continued losses in its digital photographic business, Eastman Kodak Co. cut the suggested retail price of five popular digital cameras by as much as $100, effective immediately. The five models included the top-of-the-line Kodak DC290 Zoom Digital Camera, cut to $899 from $999, and the low-end Kodak DVC325 Digital Video Camera, reduced to $99 from $149. On Monday, Kodak reported that fourth-quarter earnings rose 17%, beating Wall Street estimates. But it continued to lose money in its digital business, although the losses narrowed to $17 million in the quarter from $91 million in the year-earlier period. For the full year, digital losses totaled $116 million, down from $262 million in 1998. Kodak closed up 25 cents at $61.69 on the NYSE.