The enterprise succumbed to technology. Learn about the case.
In the 21st century, the digital revolution and the popularization of smartphones have made it possible for anyone with a cell phone to photograph the most diverse landscapes on the planet. But it took pioneering inventions from the past to get us to this point.
In this sense, a well-known company in the past, Kodak, was essential in this path. The organization helped popularize the first camera: an analog camera with a roll of film in a way that children today have never even seen.
Historical invention
In 1888, American inventor and entrepreneur George Eastman founded Kodak and changed the way people capture moments and preserve memories. Back when people were taking pictures through glass, Kodak revolutionized photography in 1900 with the introduction of the first film camera and the first flexible film roll. The invention simply popularized photography.
Throughout the 20th century, the brand dominated the market with its iconic cameras and stylish designs. During this time, Kodak made a name for itself with a number of products for the industry. One of these was the first pocket camera known as the Kodak Pocket, which made photography a more portable and affordable format. Kodak also developed its first color film in 1935.
The company also broke new ground with the Super Six-20, the first camera with automatic exposure control and eight shutter speeds, released in 1938. This invention allowed many new photographers to automatically adjust their cameras' exposure to changing lighting conditions, providing greater flexibility and accuracy in image capture.
Never before seen ease
The company made photography accessible to everyone, regardless of technical knowledge. At a time when sending a film to be developed was a click away, the company’s legendary slogan, “Push a button and we’ll do it,” reflects this promise. In 1975, the company took a pioneering step without realizing the company’s future results. That year, company engineer Steve Sassoon developed a digital camera that captured images at a resolution of 0.1 megapixels. However, although this product never became commercially available, it paved the way for other digital experiments, such as in 1986, when the company introduced a 1 megapixel camera.
As early as 1991, the company introduced the Digital Camera System (DCS), the first digital camera based on the Single Lens Reflex (SLR) camera, allowing users to accurately describe what they were capturing when taking a photo. A few years later, Kodak teamed up with Apple to launch the QuickTake, one of the first consumer digital cameras in 1994.
The business has also left an important legacy in other industries. Its dedication to research and development has led to success in the medical imaging equipment manufacturing industry.
The company also contributed to the history of the motion picture industry with Kodak Motion Picture Film. In this industry, Kodak provided a wide variety of films, from black and white negatives to color and high-speed films, to meet the diverse needs of cinema.
Outdated product
From a 20th-century innovator, Kodak has gradually become a Jurassic in the new era. Until then, the companies that dominated the photographic film market were unable to keep up with the rapid advances in digital technology. The company sought to adapt, launching its own digital camera and investing in research and development in the area. However, the venture was not successful enough to maintain its leadership position.
One of the biggest challenges facing business in the new era is the fierce competition from new entrants in the industry. As they struggled to adapt to the digital age, other brands have gained prominence and dominated the camera market. To make matters worse, the promotion of smartphones with increasingly sophisticated cameras is also negatively impacting sales of traditional cameras.
Failed business
Kodak declared bankruptcy in 2012, 124 years after its founding. The company did not disappear and underwent restructuring to focus on commercial printing and imaging technologies. In 2020, Kodak entered the pharmaceutical industry in response to demands created by the COVID-19 pandemic. The company received a loan of approximately $1.4T765 million from the U.S. government to fund Kodak Pharmaceuticals, a new division specializing in pharmaceutical components.
In the recovery process, Kodak sold its patents to a consortium of giants like Apple and Google, as well as other influential companies. The sale totaled US$525 million (approximately R$2.5 billion), helping with restructuring and recovery.
In addition to the printing and technology industries, the company is also looking at other areas. Where it once produced photography-related materials, such as New York’s Eastman Business Park, the company now houses clusters for other companies that make everything from packaging to ketchup.
