Hi,
Came across this news of the American Photographic film giant KODAK filing for bankruptcy on Thursday, the 19th Jan. A few of the major reasons for the downfall of KODAK, which was once a house-hold name around the world, are given below:
1) Firstly the Japanese competition, mainly from Fuji film ( which led to undercut its prices and reduced its profits)
2) Then the onset of digital photography in the early 2000s
In the dozen years before 2011, the company had lost more than 95 percent of its value as it was pummelled by foreign competition and then shaken to its core by a digital revolution.
3) Its inability to exit from the traditionally more profitable film business
Supposedly, Kodak executives chose to hold back on developing the digital camera in order to protect its highly profitable film business.
4) Its inability to restructure and realign itself with the technological changes that have been happening in the electronics industry.
For Kodak, which once had 145,000 employees spread around the globe, it looked more like ‘pure inertia’; a highly successful company trying to protect its near-monopoly in film by hiding the Next Big Thing and getting burned.
For more info on this development, you may like to look at:
1) Eastman Kodak Files for Bankruptcy: http://dealbook.nytimes.com/2012/01/19/eastman-kodak-files-for-bankruptcy/
2) Watch the Video on Kodak Bankruptcy: http://video.nytimes.com/video/2012/01/19/business/100000001296658/kodak-declares-banruptcy.html
3) Kodak goes bankrupt amid digital world of film: http://www.youtube.com/watch?v=zkwdwcl0EAE
4) Kodak Wins Approval for $650 Million Financing With Plans for Patent Sale: http://mobile.bloomberg.com/news/2012-01-20/kodak-wins-approval-for-financing-with-plans-for-patent-sale-1-?category=%2Fnews%2Fus%2F
Wishing you SUCCESS,
With love and regards,
Siva
value4value@gmail.com
Came across this news of the American Photographic film giant KODAK filing for bankruptcy on Thursday, the 19th Jan. A few of the major reasons for the downfall of KODAK, which was once a house-hold name around the world, are given below:
1) Firstly the Japanese competition, mainly from Fuji film ( which led to undercut its prices and reduced its profits)
2) Then the onset of digital photography in the early 2000s
In the dozen years before 2011, the company had lost more than 95 percent of its value as it was pummelled by foreign competition and then shaken to its core by a digital revolution.
3) Its inability to exit from the traditionally more profitable film business
Supposedly, Kodak executives chose to hold back on developing the digital camera in order to protect its highly profitable film business.
4) Its inability to restructure and realign itself with the technological changes that have been happening in the electronics industry.
For Kodak, which once had 145,000 employees spread around the globe, it looked more like ‘pure inertia’; a highly successful company trying to protect its near-monopoly in film by hiding the Next Big Thing and getting burned.
For more info on this development, you may like to look at:
1) Eastman Kodak Files for Bankruptcy: http://dealbook.nytimes.com/2012/01/19/eastman-kodak-files-for-bankruptcy/
2) Watch the Video on Kodak Bankruptcy: http://video.nytimes.com/video/2012/01/19/business/100000001296658/kodak-declares-banruptcy.html
3) Kodak goes bankrupt amid digital world of film: http://www.youtube.com/watch?v=zkwdwcl0EAE
4) Kodak Wins Approval for $650 Million Financing With Plans for Patent Sale: http://mobile.bloomberg.com/news/2012-01-20/kodak-wins-approval-for-financing-with-plans-for-patent-sale-1-?category=%2Fnews%2Fus%2F
Wishing you SUCCESS,
With love and regards,
Siva
value4value@gmail.com
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