The World: Chicago - Kodak to withdraw Olympic Games sponsorship

The photographic giant has been involved with the Olympics for more than 100 years and has been a major sponsor since 1986.

Kodak said the decision was linked to the efforts to transform itself from a photographic film manufacturer to a broader imaging company. Savings will be invested in other marketing initiatives.

In August, General Motors, which spends $100 million on the Games during Olympic years, announced it was withdrawing as a sponsor after the Beijing event.