Kodak files for bankruptcy

Kodak, the iconic name in the world of photography, has recently filed for bankruptcy protection.

Eastman Kodak Co. is now currently looking for buyers for some of its 1,100 digital patents. According to reports, the company had about $5.1 billion of assets and $6.75 billion of liabilities at the end of September. 

Kodak was not able to fully embrace the modern technology in terms of releasing their products. In this digital age where everyone is expected to have a handheld digital camera, Kodak failed to meet the demands of the buying public where competitors Canon, Nikon and Casio successfully grabbed.

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Fjordan Allego
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  1. It is sad to know that one of the pioneers in the world of photography is now having financial troubles. Filing for bankruptcy is one of the solutions seen to protect individuals and companies to save whatever is left of their assets. A company like Kodak is worth saving.

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