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Kodak develops Intel pact
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September 28, 1998: 11:06 a.m. ET
Industry giants strike deal to market new CD-ROM digital imaging product
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NEW YORK (CNNfn) - In a much anticipated announcement, Eastman Kodak Corp. said Monday it has teamed with chip maker Intel Corp. to market a new product that makes it easier for consumers to capture, store and print photographs on their personal computers.
The two industry giants said they will invest up to $150 million in a three-year marketing pact to promote Kodak's new Picture CD technology, a CD-ROM that bundles on one disk high-resolution scans of pictures and multiple software applications.
According to the companies, the disk offers better digital image quality than the floppy-disk based products Kodak and other companies offer today.
The marketing strategy will begin with promoting film digitization, or converting traditional pictures to digital formats through standard photographic processing methods.
Eventually, Intel and Kodak said they will pursue product-development initiatives, which will include and may go beyond digital cameras.
"The bottom line is that we want images on PCs to become as easy to use and as ubiquitous as text is today," said Craig Barrett, Intel's president and chief executive officer. "If digital imaging is easy, affordable and fun for consumers, we believe it will spur PC demand and contribute to the ultimate goal of creating new users and new uses for the PC platform."
Consumers who don't use computers ultimately will be able to tap into the technology at Kodak's kiosks and power stations nationwide.
"Kodak has always viewed digitization and digital imaging as significant growth opportunities," said Kodak Chairman and Chief Executive George M.C. Fisher. "Products such as those we are developing with Intel will fuel our growth by providing consumers with exciting new ways to use their pictures."
Shares of Intel (INTC) were off 3/8 at 87-15/16 early Monday on the Nasdaq.
Kodak shares (EK) were down 7/8 Monday morning at 80 on the New York Stock Exchange. 
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Eastman Kodak
Intel
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