Kodak Files for Bankruptcy

 Kodak Data files for Personal bankruptcy Essay

Kodak Data for Individual bankruptcy

Introduction

Following years of financial turmoil, Kodak has chose to file for phase 11 individual bankruptcy, which allows a business to reorganize itself, by January 2012 in order to boost its funds position and stay in business (Dobbin, 2012). The bankruptcy is as a consequence of Kodak staying in its last stage of layoffs and downsizing following two years (Kishore, 2012). Since 2003, more than 47, 500 jobs have already been cut along with thirteen factories getting shut down (Kishore, 2012). Background Information

Founded inside the 1800's, Kodak experienced speedy growth inside the early twentieth century along with a rise in auto-production in the usa (Kishore, 2012). Kodak was your first organization to develop the film roll with color in 1935. Employment was growing rapidly with twenty, 000 employed in 1927, 90, 000 in 1946, 120, 000 in 1973, and 145, three hundred in 1988. This growth was partially caused by the acquisition of many subsidiaries such as producing and medical imaging. (Kishore, 2012) Unfortunately Kodak was unable to continue to keep prospering because they began to encounter intense competition from various emerging organizations in the film market. Risk of Competition

Kodak encountered fierce competition especially coming from Asian produces such as Fujifilm. In the 1980's, Fujifilm presented single make use of film cams and reduced prices which in turn cut in to the revenue of Kodak. Inside the 1990's Kodak lost it is market share to digital camera manufacturers such as Several, Sony, and Nikon. Nevertheless , during this time Kodak spent $4 billion on developing picture technology inside cellular phones and digital equipment (Dobbin, 2012). Unfortunately Kodak was identified to keep depending on film allowing its competitors such as Canon Inc. and Sony Corp to exploit the rapidly growing camera market. Kodak could not reinvent itself in a rapidly growing overall economy. Although Kodak anticipated the growing popularity of digital cameras and also invented the first camera in 75, they did certainly not introduce...


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