Bloomberg writes that Kodak’s bankruptcy announcement yesterday was simply another step in CEO Antonio Perez’s grand plan to sell off the company’s photography divisions and patents in order to focus on selling digital printers and ink. At the same time, the company has been quick to reaffirm its dedication to producing film. Kodak marketing director Audrey Jonckheer was quoted by BJP today as saying,
Film (still and cinema) remains a profitable business for Kodak, and we have the broadest and most respected portfolio of films in both segments. We have taken steps to sustain the business as it has declined, and we know that there are hundreds of passionate fans of film for the artistic and quality reasons they cite. We remain committed to make film as long as there is profitable demand for it. And as I noted, it is still profitable.
That’s definitely good news for film photography lovers. Want film to survive? Just keep buying it, and hope other shooters do the same!
Kodak Bankruptcy May Get Out of Photography, Make Bet on Digital Printing [Bloomberg]
Image credit: Grama’s photo emerging from the Kodak printer at Target by Scorpions and Centaurs
Well, the rumors were true: today the iconic photography company Kodak announced that it has filed for Chapter 11 bankruptcy protection. What this means is that the company is given permission to continue its normal operations as it struggles to restructure and transform into a sustainable business. While we probably won’t see the death of the Kodak brand, the company has stated that it intends to transform into “a lean, world-class, digital imaging and materials science company”, and that they’re planning to sell off “significant assets” during this process. It remains to be seen whether Kodak continues to play a significant role in film photography once it emerges out the other end of bankruptcy protection (if it ever does).
Thanks for sending in the tip, Ian!
Image credit: kodak by zrs_one