Founded by George Eastman in 1880, Eastman Kodak Co. is credited with popularizing photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology.
“Up until around 2005, Kodak was one of the most recognizable brands in the world, and that’s now gone,” said Robert Burley, a photography professor at Ryerson University in Toronto. “It’s only real brand recognition these days is as a failed company that was unable to make the transition from the 20th century to the 21st century. To some degree, they have become a poster child for a company that could not keep up with technology.”
Kodak filed for bankruptcy protection last year after struggling with increasing competition, continuing growth in digital photography and growing debt. Since its filing, Kodak has sold off many of its businesses and patents, while shutting down the camera manufacturing unit that first made it famous.