News has been spreading over the past few days about the imminent demise of the iconic Kodak photographic company. Kodak was founded in 1880 by George Eastman and for a long a time, to the average family snapper, Kodak was the name for cameras, associated consumables, peripherals and services. Obviously the advent of the digital age impacted severely on the demand for older film type cameras and has shot Kodak’s market share to pieces. Strange though that Kodak executives did not see the revolution approaching and change tack accordingly.
Apparently Kodak shares have recently plummeted in value sparking predictions of bankruptcy. Kodak still holds some 1100 patents with a potential worth of over $2B, but only if the company can offer buyers a guarantee that the patents are 100% watertight and will not be challenged in the future which, according to the experts, is an impossibility.
So, it is looking very much like bye bye Kodak, which is probably not going to mean all that much to younger readers but will likely prompt a wave of nostalgia among the baby boomer generation. What the pending demise of Kodak does prove is how technological advances can severely affect any company, no matter how big or influential the company might be.