What happened to KODAK, the bankrupt company that is rising from the ashes? – 2024-08-04 21:22:43

by times news cr

2024-08-04 21:22:43

The popularization of digital cameras meant a change in the world of photography. Gone were the days when people relied on 24- or 32-shot rolls of film. With these new devices, the possibility of capturing hundreds of images (depending on the size of the available memory) opened up, and users could even record videos with audio. Do you remember that time?

With the popularization of digital cameras, companies dedicated to analog photography had to adapt to survive and although several succeeded, others were not so lucky. Kodakfor example, was one of the companies that declared bankruptcy, despite being a market leader. However, it seems that it is looking to rise again like a phoenix.

What is Kodak?

Founded in 1888, Kodak is an American company that dominated the global photography market for many years, thanks to its cameras, films and photographic papers. Under its motto “You press the button, we do the rest”, this company sought to make photography a simple experience within everyone’s reach.

Like any company, Kodak had several business rivals, but the strongest was Fujifilm. This Japanese company entered the US market in the 1980s and, thanks to its low prices and excellent quality, began to win many customers. Many Kodak workers even migrated to the plant that the Japanese brand opened in South Carolina.

Why did Kodak file for bankruptcy?

By the late 1990s, digital photography was just beginning to emerge, and many analog photography companies began to adapt to this change. Because Kodak’s main business was selling film and developing equipment, management decided to continue to focus on that market, rather than investing in new technology.

Other companies such as Canon, Nikon and Sony did realise that digital photography was the future and that analogue photography was destined to disappear. For this reason, they chose to invest millions of dollars to research and develop high-quality digital cameras, something they achieved before Kodak, which realised its mistake when it was already too late.

Although Kodak later decided to enter the market with several digital cameras, this did not prove profitable, as its competitors had already made a name for themselves. After several years of struggling to survive, in 2012, the American company had no choice but to declare bankruptcy. A year later, it began a restructuring process that seems to be bearing fruit.

How is Kodak rising from the ashes?

According to Xataka, a technology website, there were several changes at Kodak after the restructuring. For example, they decided to sell several of their patents and began manufacturing pharmaceutical products, including hydroxychloroquine. This drug allowed them to receive revenues of 765 million dollars, because in the United States they used it to combat COVID-19.

Kodak currently has three major divisions: pharmaceuticals, traditional printing and digital printing, the latter of which has caught the attention of many technology lovers. During MWC 2023, the technology fair in Barcelona, ​​the brand presented several digital cameras that are capable of printing an image in a matter of seconds.

Due to their vintage design, digital cameras (such as the Kodak Mini Shot 3 Retro Instant Camera o to Kodak Printomatic Instant Print Camera) have become very popular on Amazon and other online sales sites. According to the publication, in 2022, the American company reported revenues of around 289 million dollars from these products.

What is the Kodak Mini Shot 3 Retro Instant Camera?

The Kodak Mini Shot 3 Retro Instant Camera is an instant camera that combines the nostalgia of retro style with the convenience of modern technology. Here are some features and details I can provide you:

  1. Instant Print: Like other instant cameras, the Mini Shot 3 Retro allows you to capture photos and receive them physically printed instantly.
  2. Printing Technology: It uses ZINK (Zero Ink) printing technology, which means it does not require ink cartridges. Instead, it uses special photo paper that contains dye crystals that are activated by heat to produce the image.
  3. Bluetooth connectivity: The Mini Shot 3 Retro comes with Bluetooth capabilities that allow you to connect it to mobile devices to print photos from your smartphone. It can also be useful for controlling the camera remotely and adjusting some settings.
  4. Retro Design: As the name suggests, the Mini Shot 3 Retro is designed in a retro style reminiscent of classic analog cameras. This may appeal to those who appreciate vintage charm.
  5. Additional functions:In addition to taking photos and printing instantly, the Mini Shot 3 Retro is likely to have other features such as filters and effects to edit your photos directly in the camera before printing.
  6. Portability: Given its compact size, it is an easy camera to transport, making it ideal to take with you and capture moments anywhere.

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