This is a partial transcript from Your World with Neil Cavuto, October 3, 2002, that was edited for clarity. Click here for complete access to all of Neil Cavuto's CEO interviews.
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NEIL CAVUTO, HOST: In the world of photo finishing there are good pictures and there are bad pictures. You get your pictures back and they look [bad]. So you think you're a crummy photographer. But Kodak's here to say you're not and with a little help from — well, at least, Kodak, your pictures can turn out to look [good]. What's the secret? Joining me now to explain is Eastman Kodak's CEO Dan Carp.
Mr. Carp, good to have you.
DAN CARP, CHMN. & CEO, EASTMAN KODAK: Thanks for having me, Neil.
CAVUTO: All this time I thought I was a lousy photographer, it was [the film], right? That was the problem?
CARP: Well, the old technology, just optically printing negatives did not give you many opportunities to adjust. But with new digital technology from Kodak we can scan those negatives and then work some magic with some mathematical algorithms and then print them out and really help the photographer. And that way they'll get better pictures. And that's what we announced to today with Kodak Perfect Touch.
CAVUTO: All right. Now is this your response, this digital onslaught, a lot of people have said, "I know you've tried your best to correct this impression that Kodak was falling behind the curve on this." How do you describe this?
CARP: Well, not really. We've got a great digital camera system call the Kodak Easy Share. It's in the top one, two or three in terms of camera sales. But the fact of the matter is there is about 16 to 18 million digital cameras in use. And 175 million traditional cameras plus another 200 million of those nice one-time use cameras used, we can't not innovate in that category. We really owe it to the consumers to bring them new digital solutions. And we do it in this way where they don't have to change any of their behavior, they just drop their film off at the store, check the box that says "Kodak Perfect Touch" and we'll do the rest.
CAVUTO: But how do you know the store is going to do that, Dan?
CARP: Well, we've already.
CAVUTO: That they're not going to take the cheaper route and still charge you the premium?
CARP: Well, wait a minute, now, most retailers won't do that. They will offer both. It is up to us and the retailers to show the consumer which is which, and that is always challenging in a consumer product. But no, we have got some really good retail partners. We're launching it here in the Midwest with companies like Target, Costco, CVS, Kroger, and they are getting their counters set up to say to the consumer, here is a different service, costs a little more in most cases.
CAVUTO: How much more?
CARP: Well… what we are saying is it will probably cost about a dollar more than current premium processing, and consumers will make the choice.
CAVUTO: OK. Let me ask you, though… You guys were working on, I was told, a camera that would combine a digital with a traditional film camera. And then apparently you shelved it, why?
CARP: Right, well, what happened was that the technology on pure digital came down in a way that the price of digital cameras came down so fast that a combo camera would not work. And at the same time, we were bringing digital technology to traditional film. So we said, hey, we will place the bets where we think we can give the consumer the biggest bang. And the Kodak Perfect Touch looked like the place.
CAVUTO: All right, Dan Carp, best of luck with this, the Eastman Kodak CEO joining us out of Chicago, appreciate it, sir.
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