Eastman Kodak once enjoyed 80% market share for film. Then it faced stiff competition from Fujifilm. It was among the first in introducing a consumer digital camera but did not pursue its first-mover advantage. It has not made a profit since 2007 and revenues has dwindled for the last decade. In 2004, the company was removed from the Dow Jones Industrial Average after 74 years on the blue chip index. In 2010, it was removed from the S&P 500.
Even though it insists it won’t file bankruptcy, a share of Kodak now costs about $1.34. It has hired the law firm Jones Day – which is known as bankruptcy and restructuring experts.
For me, Kodak’s decline was visually represented by the current logo introduced in 2006. It was a simplistic and uninspiring logo and looked cheap.
For those who have never seen it, pictured above is the old logo that once proudly represented some of the best films used by photographers around the world.
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