Date: 21/01/2012
http://epaper.sakaaltimes.com/SakaalTimes/21Jan2012/Enlarge/page8.htm
Original Script
Eastman Kodak recently filed for loan & bankruptcy protection in USA. Though this does not spell the certain death for the icon but is a severe dent in its 131 year glorious history. For Kodak regaining lost market position will be a like climbing a greasy pole. With 1100 digital patents Kodak did revolutionize imaging and has helped us all retain good old memories. An international brand which went from $31 billion to $150 million in 15 years does paint a sorry picture of lack of vision and mismanagement. Kodak clearly failed to anticipate change in film market and unlike its Japanese rival, Fujifilm, failed to diversify its core operations. Fujifilm diversified its business successfully by venturing into medical and pharmaceutical industry. Kodak struggled with falling film sales since 1990’s and its restructuring strategy which broadly emphasized on gaining market through digital cameras and digital printing was killed by the rapid invasion of camera cell phones. The irony is Kodak pioneered digital camera technology in 1970’s but failed to recognize its potential until it was too late. It failed miserably to compete with Sony, Nikon and Canon in digital camera market. Kodak can be considered as a prime example of adapt or perish. It is sad to see the Kodak moment blur away.
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