Kodak has defended its digital camera business following press reports that claimed it is struggling to compete against its rivals.

On Monday, shares in Eastman Kodak fell more than 25% after the iconic photography brand announced it was borrowing $160m for ‘general corporate purposes’.

Subsequent media reports raised concerns about Kodak?s strength in the digital photography arena.

Among the critics was Chris Green, a technology analyst at the Davies Murphy Group, who claimed the US-based firm was in danger of becoming obsolete in the digital age.

?Unless they can keep pace they won?t survive,? he told the BBC.

Asked to respond to claims that Kodak is struggling to compete in the digital camera market, spokesman Christopher Veronda told Amateur Photographer: ?We have one of the leading digital camera line-ups, including top-selling pocket video cameras with differentiated features, and a wide range of digital cameras that feature the unique ?Share? button.?

Picture: Kodak CEO Antonio M Perez