Traditional Culture Encyclopedia - Photography major - Why did Kodak go bankrupt?

Why did Kodak go bankrupt?

The rise of digital cameras, low-cost mobile photography, sales and profitability decline.

1, the rise of digital cameras: With the rapid development of digital technology, digital cameras have replaced traditional film cameras and become the mainstream. Kodak's development in the field of digital cameras is relatively backward, and it failed to meet the market demand in time and missed the opportunity of this transformation.

2. Low-cost mobile phone photography: The popularity of smart phones enables people to take photos anytime and anywhere, and mobile phone photography has gradually become the mainstream. Kodak failed to grasp this trend and could not compete with mobile photography.

3. Decline in sales volume and profitability: With the shrinking of the traditional film camera market, Kodak's sales volume has gradually declined, and the company's profitability has been seriously affected. In addition, Kodak's profits in digital printing and photo development services have also been impacted by competitors.