Kodak Files For Bankruptcy Protection

Snirt writes "Following up on a story previously discussed here, it now appears Eastman Kodak, the company that invented the hand-held camera, has filed for bankruptcy protection. The move, according to Kodak's news release, gives the company time to reorganize itself without facing its creditors, and Kodak said it would mean business as normal for customers. The company has recently moved away from cameras, focusing on making printers to stem falling profits."

Comments

Kodak vs Fuji

[michaelmalak]

Fuji thrived while Kodak went bust. The Economist explains why.

Re:Kodak's Moment

[Lev13than]

Kodak's demise is a cautionary tale for anyone who owns Apple stock. The two companies have a lot in common - at one point Kodak's products were in every house in the developed world. Kodak owned entire categories of consumer devices and were heavily used by the creative classes. Kodak had the additional advantage of being entrenched in a number of huge industries, including news, media, Hollywood and hospitals. In short, they were seen as indispensable and their earnings reflected this reality.

Fast forward 30 years and they completely failed to re-invent themselves, which is mandatory for consumer products companies. Sony has its own issues, but at least they aren't trying to make a go of Walkmans any more. Apple is approaching a similar inflection point, and their need to innovate goes well beyond a slightly larger, slightly faster iPhone.