Kodak

Eastman Kodak Company
TypePublic
NYSEKODK
Russell 2000 Index component
Industry
PredecessorThe Eastman Dry Plate and Film Company
Founded1888; 133 years ago (1888)[1]
Founders
HeadquartersKodak Tower
Rochester, New York, U.S.
Area served
Worldwide
Key people
James V. Continenza
(Executive Chairman and CEO)
ProductsDigital imaging, photographic materials, equipment and services
RevenueDecrease US$ 1.018 billion (2020)[2]
Negative increase US$ −376 million (2020)[2]
Negative increase US$ −541 million (2020)[2]
Total assetsDecrease US$ 1.248 billion (2020)[2]
Total equityDecrease US$ 77 million (2020)[2]
Number of employees
Decrease 4,500 (2020)[3]
Websitewww.kodak.com
Kodak 35mm film cartridge alongside Asahi Pentax film camera. The shift from film to digital greatly affected Kodak's business.
Kodacolor II 126 film cartridge, expiring date 1980.

The Eastman Kodak Company (referred to simply as Kodak /ˈkdæk/) is an American public company that produces various products related to its historic basis in analogue photography. The company is headquartered in Rochester, New York, and is incorporated in New Jersey.[4] Kodak provides packaging, functional printing, graphic communications, and professional services for businesses around the world. Its main business segments are Print Systems, Enterprise Inkjet Systems, Micro 3D Printing and Packaging, Software and Solutions, and Consumer and Film.[5][6][7] It is best known for photographic film products.

Kodak was founded by George Eastman and Henry A. Strong on September 4, 1888. During most of the 20th century, Kodak held a dominant position in photographic film. The company's ubiquity was such that its "Kodak moment" tagline entered the common lexicon to describe a personal event that deserved to be recorded for posterity.[8] Kodak began to struggle financially in the late 1990s, as a result of the decline in sales of photographic film and its slowness in moving to digital photography, despite developing the first self-contained digital camera.[9] As a part of a turnaround strategy, Kodak began to focus on digital photography and digital printing, and attempted to generate revenues through aggressive patent litigation.[10][11]

In January 2012, Kodak filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Southern District of New York.[12][13][14] Shortly thereafter Kodak announced that it would stop making digital cameras, pocket video cameras and digital picture frames and focus on the corporate digital imaging market.[15] Digital cameras are still sold under the Kodak brand by JK Imaging Ltd under an agreement with Kodak. In August 2012, Kodak announced its intention to sell its photographic film, commercial scanners and kiosk operations, as a measure to emerge from bankruptcy, but not its motion picture film operations.[16] In January 2013, the Court approved financing for Kodak to emerge from bankruptcy by mid 2013.[17][18] Kodak sold many of its patents for approximately $525,000,000 to a group of companies (including Apple, Google, Facebook, Amazon, Microsoft, Samsung, Adobe Systems, and HTC) under the names Intellectual Ventures and RPX Corporation.[19][20] On September 3, 2013, the company emerged from bankruptcy having shed its large legacy liabilities and exited several businesses.[21] Personalized Imaging and Document Imaging are now part of Kodak Alaris, a separate company owned by the UK-based Kodak Pension Plan.[22][23]

In response to the COVID-19 pandemic, in 2020 Kodak announced it would begin production of pharmaceutical materials.[24]

  1. ^ Cite error: The named reference foundingdate was invoked but never defined (see the help page).
  2. ^ a b c d e "Eastman Kodak Company". US: Eastman Kodak Company. 2020.
  3. ^ "Eastman Kodak Number of Employees 2006-2020 | KODK". www.macrotrends.net. Retrieved April 15, 2021.
  4. ^ "Certificate of amendment to the restated certificate of incorporation of Eastman Kodak company" (PDF). New Jersey division of revenue. June 8, 2005. Retrieved January 7, 2008.
  5. ^ "DISCLOSURE STATEMENT FOR DEBTORS' JOINT PLAN OF REORGANIZATION UNDER CHAPTER 11 OF THE BANKRUPTCY CODE". April 30, 2013. Retrieved October 1, 2013.
  6. ^ "Kodak Announces Emergence From Bankruptcy". September 3, 2013. Retrieved October 2, 2013.
  7. ^ "Kodak creating new business divisions". Rochester Democrat and Chronicle. Retrieved December 30, 2016.
  8. ^ Rees, Jasper (January 20, 2012). "The end of our Kodak moment". The Telegraph. London. Retrieved January 20, 2012.
  9. ^ Hiltzik, Michael (December 4, 2011). "Kodak's long fade to black". Los Angeles Times. Retrieved December 11, 2011.
  10. ^ "Kodak embraces digital revolution". BBC News. January 13, 2004. Retrieved March 29, 2010.
  11. ^ Mattioli, Dana (April 19, 2010). "At Kodak, Patents Hold the Key to the Future". The Wall Street Journal. Retrieved July 8, 2011.
  12. ^ "Kodak files for bankruptcy, plans biz overhaul". Business Standard. January 19, 2012. Retrieved January 19, 2012.
  13. ^ McCarty, Dawn; Jinks, Beth (January 19, 2012). "Kodak Files for Bankruptcy Protection". Bloomberg. Retrieved January 19, 2012.
  14. ^ J. de la Merced, Michael (January 19, 2012). "Eastman Kodak Files for Bankruptcy". The New York Times. Retrieved January 19, 2012.
  15. ^ Pepitone, Julianne (February 9, 2012). "Kodak ditches digital camera business". CNN.
  16. ^ M Lowe, Scott (August 24, 2012). "Kodak announces plans to sell still film, commercial scanner, and kiosk divisions". The Verge. Retrieved August 24, 2012.
  17. ^ Gilbert, Ben (January 23, 2013). "Court approves Kodak financing, could exit bankruptcy by mid-2013". Engadget.com. Retrieved March 3, 2013.
  18. ^ Brachmann, Steve (November 1, 2014). "The Rise and Fall of the Company that Invented Digital Cameras| Patents & Patent Law". IPWatchdog.com | Patents & Patent Law. Retrieved May 24, 2017.
  19. ^ Adamczyk, Maciej (December 20, 2012). "Apple i Google pośród firm, które zapłaciły za patenty Kodaka 525 milionów dolarów". Magazyn T3 (in Polish). Retrieved August 22, 2020.
  20. ^ Skillings, Jon; Kerstetter, Jim (December 19, 2012). "Kodak sells its imaging patents for $525M". CNET. Retrieved August 22, 2020.
  21. ^ Daneman, Matthew (September 3, 2013). "Kodak bankruptcy officially ends". USA Today. Retrieved October 1, 2013.
  22. ^ "Kodak emerges from bankruptcy with focus on commercial printing". Reuters. September 3, 2013. Retrieved October 1, 2013.
  23. ^ "Kodak Exits Bankruptcy". New York Times. September 3, 2013.
  24. ^ "Kodak". www.kodak.com. Retrieved July 30, 2020.

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