Kodak files for bankruptcy

18 replies
Just learnt about this on the news...

Kodak hopes bankruptcy filing will give it a fresh start

http://www.reuters.com/article/2012/...80J07D20120120

#bankruptcy #files #kodak
  • Profile picture of the author SteveJohnson
    Too bad they weren't able to manage things a little differently. They were on the forefront of digital photography having invented the first digital camera, but evidently didn't see where photography would ultimately go.
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  • Profile picture of the author BIG Mike
    Banned
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  • Profile picture of the author Targeted Traffic
    Gee...Kodak was the Apple of it's era some time ago...I guess this is another reminder and a lesson that market dominance can definitely become 'once upon a time...' so innovate..re-invent..discover...and have a number of back-ups
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  • Profile picture of the author danlew
    I feel bad and sorry for them. I usually used their services a long time ago for album photography, and it's great. I'm not really surprised though, but its sad to see them go bankrupt.
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  • Profile picture of the author xxxJamesxxx
    The saying, adapt or die comes to mind here.

    Shame really, but if you can't move with the times, I guess it was gonna happen.

    James Scholes
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    • Profile picture of the author richblogs
      Yup, a great shame for a company with such history, but it doesn't come as a surprise to me.

      Kodak was excellently positioned to take the digital era by the horns, but to my mind, just didn't keep up with the likes of Canon and Nikon. Poor vision and leadership must be blamed.
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    • Profile picture of the author Mark Bradley
      I saw it on the BBC news yesterday.Sad to see a company with
      so much history and standing find itself in such a predicament.

      They began selling $1 Box Brownies giving the masses the
      opportunity to create cherished memories.

      They took their eye off the ball, thinking that the market
      was product driven and not consumer driven.
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  • Profile picture of the author Don Schenk
    One of the things I saw about Kodak during the 38 years I owned a photography studio was their technology was always cutting edge, but their marketing stunk.

    For example, in 1996 (5 years after they invented and began selling digital photography equipment) they were still selling the digital cameras and printers through their graphic arts division. People in the printing and pre-press industry could buy the new digital equipment, but Kodak was not sell the equipment to photographers!

    At the Professional Photographers of America convention that year, Kodak rented multiple booth spaces in the trade show, but did not display or demonstrate the new digital equpment, and none of Kodak's sales reps knew anything about it other than digit was sold through Kodak's graphic art division. That was all they could tell us!

    I have other horror stories about Kodak's marketing - or lack there of - but I won't bore everybody.

    They caused their own problems.

    :-Don
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  • Profile picture of the author onegoodman
    I really feel sorry for those big guys, they come, take over, and on no time they goes back to where they started.

    When they reach to the level where they need to fill for bankruptcy, I think it is game over Kodak
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  • Profile picture of the author Venturetothetop
    Kodak are well known in my world for being completely arrogant - their corporate culture was beyond belief.

    They controlled 90% of the market in the 70's and even when inventing the first megapixel camera and the first 'digital' camera, they still expected customers to flock to them instead of ensuring they reached them.

    They simply got too 'big headed' which is understandable when you your company is over 100 years old and dominated for so long. Our modern generation is defined by constant innovators (Apple) but Kodak were simply too old school. It's not all over for them as I believe they will keep the printers divisions, but it looks bleak.

    If anyone is interested I wrote a blog post about lessons we should learn from Kodaks bankruptcy this morning, which you can read here.
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    • Profile picture of the author MikeTucker
      Originally Posted by Don Schenk View Post

      One of the things I saw about Kodak during the 38 years I owned a photography studio was their technology was always cutting edge, but their marketing stunk.
      :-Don

      Reminds me of when Carl Sagan tried to start his own business. He and his partner made some quaint little products with a mark-up in the 2000% range, then just sat there and expected things to sell themselves.

      A lot of trash has succeeded-- and great companies have failed-- because of the quality of their sales & marketing.




      Originally Posted by Venturetothetop View Post

      Kodak are well known in my world for being completely arrogant - their corporate culture was beyond belief.


      "Arrogant" is the correct word to describe their corporate culture. Unfortunately, they had little reason to be confident under the last couple of CEO's, much less any reason to cross the line.

      Among the many errors they made, they never focused on anything. They continued to spend enormous amounts of money to try and find their new niche and new method of making sales, but they never stuck with a single product or service long enough for to gain any return on their investment at all. They were constantly bouncing from one make-money-fast scheme to the next.

      Hmm... Sounds familiar. Maybe it will clearly illustrate the results of this wish-washy approach to other people suffering from this syndrome.

      After all, if a century-old leader of it's industry goes bankrupt because they didn't focus on a single thing and fight for market dominance in that area, what hope do fledgling would-be IMers have?

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  • Profile picture of the author sylarrr
    at the beginning of digital era Kodak was a big player.. R.I.P


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  • Profile picture of the author spearce000
    It just goes to show that if you don't move with the times, you get left behind. This is a real shame, as I've always liked working on film – it gives a nice, mellow tone. The discipline of limited length, and having to set the camera up manually really keeps you on your toes.

    I suppose other film manufacturers (like Fuji, and Agfa,) will look seriously at their businesses now. Hopefully they will learn the lessons Kodak wouldn't.


    But times move on. Digital and video are king and queen now. Even glossy magazine shoots and feature films are shot digitally these days. It's ironic that Kodak invented the digital stills camera back in 1975 but never did anything with it. If you snooze you lose!


    I was in the market for a new printer a couple of months back, and seriously considered getting a Kodak one; instead, I decided to get the HP one that was on sale. Looks like I made the right decision!
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  • Profile picture of the author Guru_Marketing
    Yea, I heard about Kodak. I think it's a mismanagement of the assets they are having. They did it to themselves.
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  • Profile picture of the author Jeff Usher
    ...... guess we'll have to see what develops
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    • Profile picture of the author Mark Bradley
      Originally Posted by Jeff Usher View Post

      ...... guess we'll have to see what develops
      That's funny Jeff....very sharp.
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  • Profile picture of the author asepkomara
    Too bad. Perhaps Kodak was lack of inovations so costumers switched to another brands.
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  • Profile picture of the author GarrieWilson
    Yeah.. stupid me got some of their stock then two days later my mom goes, "Kodak was on tv and having financial problems."

    Oh well. Its just money.
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