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Kodak Revamps Wal-Mart Kiosks
Summary: In a move that highlights the growing popularity of self-serve instant photo processing kiosks, Eastman Kodak Co. (EK) is installing more than 2,000 new kiosks at Wal-Mart Stores Inc. (NYSE:WMT), in an upgrade expected to provide a significant boost to the instant-print sales starting this holiday season. The kiosks involve self-service devices where customers plug in their camera or memory cards, pay by credit card, and receive digital photos that take four seconds to print. Under the agreement, Kodak will install newly designed kiosks that can be used by two customers at a time, which both companies expect will expand usage significantly. Wal-Mart, the world's largest photo processor, has already started installing the kiosks and plans to have them fully online by Nov. 1, in time for the holiday shopping season. The companies declined to disclose financial terms. The new three-year contract with Wal-Mart is an important step for Kodak, which has undertaken a painful three-year transition to the digital world, reporting huge losses as it closes plants and lays off thousands of workers.
Comment on related stocks/ETFs: For more on Kodak's performance, read their most recent quarterly conference call.