Kodak Files for Bankruptcy Protection

Eastman Kodak has filed for bankruptcy protection, and I sit here thinking how could this had happened? They have been around for 131 years, they were the film of choice for decades. I guess the key word in the previous sentence is "film".

We have moved past the age of film, we are in the digital era and Kodak in my opinion took too long to accept the digital era and that eventually hurt them. This 131 year old company became a newcomer. They failed to innovate, something they had done for years with film.

But it was not just the lack of innovation and entering the digital market late that in my opinion has done Kodak in. They also entered into the consumer printing market with bogus money saving claims that tarnished their reputation.

So here we are 131 years later, and while Kodak has been able to secure 950 million in financing from Citi Group, I highly doubt Kodak will ever exit from bankruptcy.