Antonio Perez, CEO of Eastman Kodak, warned that Kodak is to raise its prices for digital cameras, printers and other consumer products by as much as 20% over the coming month because of soaring raw material costs. The entire industry would have to increase prices “without any doubt” as commodity costs would remain high for years owing to high demand in emerging economies. “Everyone has the same problem,” he said.
Without doubt, Kodak is in greater pressure than others since it is balance sheet is still in red. However this might still be happening. If so, the fancy digital camera that you have been drooling over may become suddenly more expensive soon. Another reason to convince yourself you need to buy it now? 🙂