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    Lesson 5 Kodak What Happened To A Great Company

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    Salome Deguzman
    Kodak was once a dominant company in photography but failed to adapt to digital photography. It filed for bankruptcy in 2013 after selling off intellectual property and assets. The company poured money into failed investments in cameras, printers, and medical devices while film sales plummeted. Once employing over 145,000 people with 200 buildings, Kodak now owns only a few buildings and the CEO is based in San Francisco trying to manage remaining intellectual property and employees. While Kodak created early digital photography, it did not capitalize on this and the future of the company remains uncertain.

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    Lesson 5 Kodak What Happened To A Great Company

    Uploaded by

    Salome Deguzman
    99 views1 page
    Kodak was once a dominant company in photography but failed to adapt to digital photography. It filed for bankruptcy in 2013 after selling off intellectual property and assets. The company poured money into failed investments in cameras, printers, and medical devices while film sales plummeted. Once employing over 145,000 people with 200 buildings, Kodak now owns only a few buildings and the CEO is based in San Francisco trying to manage remaining intellectual property and employees. While Kodak created early digital photography, it did not capitalize on this and the future of the company remains uncertain.

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    Lesson-5-Kodak-What-Happened-to-a-Great-Company

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    Kodak was once a dominant company in photography but failed to adapt to digital photography. It filed for bankruptcy in 2013 after selling off intellectual property and assets. The company poured money into failed investments in cameras, printers, and medical devices while film sales plummeted. Once employing over 145,000 people with 200 buildings, Kodak now owns only a few buildings and the CEO is based in San Francisco trying to manage remaining intellectual property and employees. While Kodak created early digital photography, it did not capitalize on this and the future of the company remains uncertain.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    99 views1 page

    Lesson 5 Kodak What Happened To A Great Company

    Uploaded by

    Salome Deguzman
    Kodak was once a dominant company in photography but failed to adapt to digital photography. It filed for bankruptcy in 2013 after selling off intellectual property and assets. The company poured money into failed investments in cameras, printers, and medical devices while film sales plummeted. Once employing over 145,000 people with 200 buildings, Kodak now owns only a few buildings and the CEO is based in San Francisco trying to manage remaining intellectual property and employees. While Kodak created early digital photography, it did not capitalize on this and the future of the company remains uncertain.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    Kodak – What Happened to a Great Company

    Yes, Kodak is still a company, having emerged from a 2013 bankruptcy that was preceded by a decade of
    selling off intellectual property; failed investments in cameras, printers, and medical devices; and sharp
    reductions in their workforce. Of the more than 200 buildings that once stood on the 1,300-acre campus in
    Rochester, NY, more than 80 have been demolished and 59 others have been sold off to other companies.
    Eastman Kodak was founded officially in 1881 as the Eastman Dry Plate Company. In 1888 the name “Kodak”
    was born and the KODAK camera appeared on the market, with the slogan, “You press the button—we do
    the rest.” The company grew rapidly on the back of research and patents that set the standards for decades.
    By 1990 it had sales of $19 billion and employed more than 145,000 employees worldwide. Kodak actually
    created digital photography and put the technology into professional cameras in the early 1990s. While they
    were the founders of what would eventually mean the demise of the company, they did little with it, only
    dabbling in cameras for consumers. It wasn’t that the company didn’t see the decline in film coming; it was
    just so profitable to keep producing film that everyone assumed the company had time to change. The end
    began to become very clear. Starting in 2001 film sales began plummeting by 20%–30% a year. The company
    poured a fortune into a very unsuccessful attempt to enter the digital printing market. Like so many companies
    that are unable to adapt to new market conditions, the company suffered through many rounds of layoffs,
    restructurings, and asset sales as management teams floundered. In 2013 the company sold off a majority
    of its remaining valuable patents to a group of companies including Apple, Samsung, and Facebook for just
    over $500 million. Today the company is owned by a group of Private Equity investors and the CEO lives in
    San Francisco and is trying to manage the remaining intellectual property and employees to find some areas
    of growth. The company excels at high-speed printing and digital imaging. Some Hollywood directors still use
    film (Quentin Tarantino & J.J. Abrams) which Kodak continues to produce, but the future of the company is
    murky at best. Kodak, once a brand name that rivaled the greatest in the world may go the way of other
    legacy companies that failed to change with the environment.
    Source: Quentin Hardy, “At Kodak, Clinging to a Future Beyond Film,” The New York Times, March 20, 2015.

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