Kodak

About Kodak

Eastman Kodak filed for Chapter 11 bankruptcy on January 19, 2012. Kodak had once dominated the photography industry with a market value of 31 billion in 1997. The company invented the digital camera in 1975 but failed to capitalize on the technology, fearing it would cannibalize film sales. Kodak lost 90 percent of its market value between 2000 and 2012. The bankruptcy filing listed 51 billion in assets and 6.75 billion in liabilities. Kodak emerged from bankruptcy in September 2013 as a much smaller company focused on commercial printing and imaging. The Kodak bankruptcy became a case study in how dominant companies can fail by resisting technological change. Fujifilm, Kodaks old rival, successfully diversified into healthcare and imaging products.