Monday, July 25, 2016

Kodak - The Giant That Fell

Source Google

“Imagine a time well into the future where someone might not understand what it means to “Google” something. That mental image is impossible for anyone with regular Internet access to fully realize.” jpwatchdog.com

"You press the button, we do the rest," In 1888, George Eastman coined the slogan for Kodak as they put their first camera into the hands of a world of eager consumers wanting a simple way to take pictures.

Until Kodak, the only way to have a picture taken was to hire a professional photographer. With the introduction of Kodak’s first camera, suddenly photography became a part of the family. The camera accompanied us on family outings, vacations, holidays and birthdays. Scores of pictures of living generations were snapped and placed into photo albums.

The term, “Kodak moment” was used for almost a 100 years ...

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TO READ THE REST OF THE STORY

This is the 2nd in a series on the rise and fall of giants

and the lessons that we can perhaps learn.

More Information Regarding the Rise & Fall of Kodak

Kodak: 130 years of history

1994 - Apple launched one of the first consumer digital cameras, the QuickTake. It was actually designed by Kodak and had been released months before Apple's version in Japan under its own brand name. The camera took photos at a resolution of 640 by 480 pixels.

2004 - Kodak stopped selling film cameras in the face of increasingly popular digital alternatives.

2005 - Kodak was the largest seller of digital cameras in the US, with revenue reaching $5.7bn. By 2007 it had fallen to fourth place and by 2010 to seventh.

How Success Killed Eastman Kodak

Since peaking in February 1999 at about $80 a share, Kodak shares have suffered a steady tumble that wiped out 99% of their value — to 78 cents a share as of Sept. 30. At the end of June, Kodak’s liabilities exceeded its assets by $1.4 billion. It then owed $1.4 billion and had $957 million in cash, down $847 million from the end of 2010.