Polaroid, the company behind the iconic instant camera, is to stop making instant film.

The firm has announced it is to close factories in Massachusetts in the States, Mexico and the Netherlands. Polaroid stopped making the instant cameras approximately a year ago.

"We're trying to reinvent Polaroid so it lives on for the next 30 to 40 years", the firm's president, Tom Beaudoin, told the Associated Press.

Polaroid has said there are enough film stocks to last until 2009, and may well sell the licensing rights to another firm to continue supplying the product to the public.