Kodak withdraws from Olympic Games
Kodak has decided to end its corporate sponsorship of the Olympic Games. The Rochester, NY-based company will conclude its sponsorship as the official imaging sponsor of the Olympics following the 2008 Games in Beijing, where it will fully participate as a top sponsor.
According to a statement by Elizabeth Noonan, director, brand management at Kodak, the move reflects Kodak's transformation into a digital imaging and printing firm.
"As we complete the transformation of Kodak, it makes sense for us to take a new direction," Noonan said. "Digital technology changes everything, including the way we market our products and services. Our new business strategy requires us to reassess our marketing tactics as well, and adapt them to changing market conditions and evolving customer behavior," she continued.
Kodak is one of 12 sponsors in the Olympic program, the top-tier partnership level for companies. At next year's games, the company will operate a 20,000-square-foot image center for accredited photojournalists to process, edit and upload their photos of Olympic athletes; operate a polyclinic for diagnostic imaging and treatment of athletes' injuries; and prepare accreditation badges for thousands of Olympic participants.