Where is the cause of Kodak's bankruptcy?

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

Kodak's achievements and glory before bankruptcy;

Kodak Company invented the first digital camera in 1 and 1975.

2. From 65438 to 0975, Kodak Laboratories in the United States developed the world's first digital camera, but Kodak never dared to vigorously develop digital business for fear that film sales would be affected. In 2003, Kodak finally chose to transform from traditional imaging business to digital business.

3. 1964, automatic cameras went on the market immediately, and 7.5 million cameras were sold that year, setting a world record for camera sales.

4. 1990 and 1996, Kodak ranked fourth among the 10 brands ranked by brand consulting companies, and it is a well-deserved overlord in the photosensitive industry.

5. At its peak, Kodak's global employees reached 1.45 million. It attracts engineers, doctors and scientists from all over the world to work in its headquarters in Rochester, new york, and many professionals are proud to work in the company.

Baidu Encyclopedia-Kodak went bankrupt