Fantastic piece by Quentin Hardy for The New York Times on the current state of Kodak, the company that was once the global leader in film photography and that filed for bankruptcy in 2012:
What happens after a tech company is left for dead but the people left behind refuse to give up the fight? At Kodak the answer is to dig deep into a legacy of innovation in the photography business and see if its remaining talent in optics and chemistry can be turned into new money in other industries.
Once a household name as big in its day as Apple and Microsoft have been for later generations, Kodak was part of everyday life, its film — sold in a yellow box — recording births, vacations, weddings. And then Kodak became a cautionary tale about what happens when a tech company is slow to change. For Kodak, the advent of digital photography was ruinous. Today it has $2 billion in annual sales, compared with $19 billion in 1990 when consumer film was king. It now has 8,000 employees worldwide; it had 145,000 at its peak.
The digital photography revolution was brutal on Kodak, but the company refuses to die. If nothing else, you gotta admire their resiliency. Via The Newsprint.