Published in News
Kodak files for bankruptcy
Sad end for photography icon
Eastman Kodak filed for Chapter 11 bankruptcy protection on Thursday, marking the end of the line for the 131-year-old photo outfit.
Kodak spent the past couple of decades struggling to keep up with competition from Japan, but the shift to digital photography was the final nail in the coffin for the iconic brand.
Kodak pioneered affordable point and shoot cameras, but it was also at the forefront of photography technology for decades. Kodak engineers and boffins invented the first 35mm colour film, the first digital camera, first megapixel sensor and numerous other technologies and features that we use to this day.
Sadly, the company failed to properly adapt to the new digital era and despite some early, pioneering moves, Kodak spent the better part of the last decade in the back seat, while the competition thrived. In 2010, Kodak employed more than 18,000 souls and they obviously face tough times ahead.