Is Kodak bankrupt? Is their company still in operation? Why is their website still accessible?

Kodak filed for bankruptcy protection on 20 12 65438+ 10/9, which does not mean that Kodak no longer exists, so the company website still exists. Bankruptcy is only the reorganization of its own business and assets. The traditional film business was abandoned in this bankruptcy reorganization, but its digital business still exists.

Kodak filed for bankruptcy for the following reasons:

1, the market price competition is fierce.

The fierce competition in the film market has increased Kodak's operating pressure. In the markets of Eastern Europe and developing countries, cheap film also poses a great threat to Kodak, because low-income people pay more attention to price than brand and quality. Kodak implemented a series of price counter-attack strategies, which once played a role to a certain extent, but still could not completely eliminate the bad influence brought by the price war.

2. The influence of digital imaging technology on traditional imaging technology.

High cost, heavy equipment and serious pollution are difficult problems in the production and printing of negatives and photographic papers, but the inconvenience brought by using negatives and photographic papers is that they are bulky, unable to be preserved permanently and difficult to find.

3, the impact of the economic crisis

Since 2007, Kodak has implemented the second strategic reorganization, laying off 28,000 people, up to 50%. However, when the financial crisis broke out in 2008, demand weakened and the market shrank. Its fourth quarter report shows that Kodak lost $654.38+33 billion, and its annual revenue declined for the third consecutive year. Kodak, which barely made a profit by selling assets, was suddenly returned to its original shape.

Extended data:

Rumors that Kodak is on the verge of bankruptcy have been circulating. Since Kodak announced a major strategic transformation in September 2003, its operation has been facing difficulties, and the huge losses in successive years have greatly reduced the confidence of investors.

In September 2003, Kodak announced a major strategic transformation, and its business focus shifted to digital, medical imaging and inkjet printers in an all-round way, trying to adapt to the situation and make changes. However, carl icahn, a famous investor, chose to withdraw his capital from Kodak in early 2004 because he was not optimistic about Kodak's strategic transformation and thought that Kodak's business model was not effective. Icahn believes that the measures taken by Kodak are far from enough to reverse the situation, and it is too late.

As early as 2003, because film sales began to shrink, the sales profit of Kodak's traditional imaging department dropped sharply from $654.38+0.43 billion in 2000 to $465.438+0.8 billion, a decrease of 765.438+0%.

Since 2005, Kodak has only made a profit for one year, and all other years have been losses. In order to save operating costs, Kodak began to lay off about 20% of its employees in 2004, and the number of employees worldwide decreased from 86,000 in 1998 to less than 20,000 at the end of 20 10.

However, after a night of rain, Kodak's financial crisis is still declining. When the European financial crisis breaks out again, it probably won't last long.