PetaPixel

Kodak Is Disappearing Before Our Eyes

Kodak’s stock plummeted again today, losing nearly 50% of its value and closing at $0.78 per share. The company was worth over $30 billion back in 1997, but todays stock price pegs the value at just $200 million. Prominent investors in the company are calling for its sale, but apparently there’s been hurdles in selling off its patent portfolio, and now bankruptcy might be on the horizon. A quote by a company spokesperson a couple days ago caught my eye: when asked why Kodak was struggling in the digital market, the response was,

We have one of the leading digital camera line-ups, including top-selling pocket video cameras with differentiated features, and a wide range of digital cameras that feature the unique “Share” button.

That kind of explains things, doesn’t it? The end appears to be very near…


 
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  • Mason1973

    They’ll more than likely get brought out. About 1/3rd of their income is from the patents they hold. The IP assets alone will entice some offers if they are willing.

  • Anonymous

    So sad. It was once a great company.

  • Travis

    That is the biggest load of bs i’ve ever seen to a serious question, and I’ve heard lindsay lohan say she expects to win an oscar when asked about her future plans.

  • http://www.facebook.com/profile.php?id=698973572 Patric Franksson

    Their single use Flash-camera is pure gold .. love it!

  • http://www.facebook.com/profile.php?id=100000478088178 Ian Ludwig

    This kind of stuff happens all too often with stocks. FYI, it was back up 40% in afterhours trading. The powers that be can drive a stock down take out stops, then pick it up on the cheap and then sell at the top or cover their short positions. It is sad to see hapen to Kodak but it isn’t anything new as far as the stock market is concerned.

  • Handy Andy Buckley

    Well if they will allow their employees to talk rubbish (see my comments at the bottom):

    http://www.petapixel.com/2011/07/07/does-bringing-a-camera-onto-an-airplane-damage-its-sensor/ 

    Then what do they expect?

  • http://facebook.com/swiftmed Andrew MacDonald

    Took the words out of my mouth. 

  • Neurofungus

    I would love to see Sony buy Kodak. That would give them a better chance at nudging the top 2 to the top 3. Nikon, Canon and Sony.

  • http://twitter.com/retsinakis jim

    I think Ian Ludwig has it about right. There are still thousands of investors only interested in feathering their own very well appointed nests. They will not worry if Kodak goes to the wall. I bet most of them own top of the range Nikons and Canons.

  • MAD

    One of my cameras is a Kodak Easyshare. I took thousands and thousands of photos and never uses the “unique” share button.

  • Baz

    If Kodak stops making film then that basically only leaves Fuji for color print film and slide film.  Thankfully black and white is still made by Ilford and a number of other firms.  It is very sad that an icon of photography that has had so much potential in the digital age has not been able to capitalize on this.  They basically invented the digital camera.  You can’t say they were superseded like Polaroid they were at the forefront of the digital age.  they had the first full frame DSLR and they still make sensors for Leica etc.  It seems like management failure.  lets hope the low US dollar helps bring manufacturing back to the US and makes making cameras in the US profitable again

  • http://www.diyphotography.net/ udijw

    I guess that is bad news for petapixel since they bought you back in april ;)

  • Dhh

    You should probably stop posting blog articles on topics you clearly know nothing about.

  • http://twitter.com/ralphhightower Ralph Hightower

    Damn! First they killed Kodachrome. Will TriX and T-Max be next?

  • Hagen from Germany

    Kodak could revover if they do this: 
    1.) The “share” button allows direct upload to facebook, flickr, etc. through integrated Wifi and 3G. No computer needed.
    2.) The user can downloads apps on his device through an appstore like on the iphone