Quick Note: Kodak Bails on Digital Camera Market
February 9, 2012 12:06 PM
comment(s) - last by
Kodak also giving up on photo frames and pocket video recorders
It's no secret that photography company Kodak has been down on its luck in recent years. The company, which was once a pioneer in digital photography, found itself unable to compete with more agile competitors like
. Even more telling is with the rise of smartphones with increasingly better picture/video-capturing capabilities, the market for dedicated point-and-shoot cameras has been steadily eroding; a point that
Sony has already conceded
Given that Kodak digital cameras typically couldn't hold a candle to competition from Nikon, Canon, and Sony, it should come as no surprise that following the company's announcement last month that it was
filing for bankruptcy
that the next step would be to shutter its digital camera business.
Digital cameras, however, aren't the only casualties -- Kodak will also discontinue pocket video cameras and digital photo frames. These product lines will be phased out during the first half of 2012.
“For some time, Kodak’s strategy has been to improve margins in the capture device business by narrowing our participation in terms of product portfolio, geographies and retail outlets. Today’s announcement is the logical extension of that process, given our analysis of the industry trends,” said Pradeep Jotwani, President, Consumer Businesses, and Kodak Chief Marketing Officer.
Kodak will now focus its energies on its more profitable areas including retail photo printing, desktop inkjet printing, its Kodak Gallery online photo service, and traditional film capture business.
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RE: Never inovated
2/9/2012 3:36:15 PM
I've followed this at the beginning of the digital change and Kodak just simply did not agree they should be switching over from film. Top management wanted to stay around because they view digital media to be insignificant. I was in Colorado at the time and visited their huge plant there and was stun at their casual and careless attitude towards the changing media.
Needless to say, when it boom they were far far to late to the game. Market shares were being taken from them at great speeds while their innovation in competing products pale in reviews and most importantly consumer awareness. It wasn't at least 5 years that they came out with a decent product with decent marketing to get some of the consumers back, but not enough since the market was already divided amongst the cannon, sony and so on.
If I'm not mistaken, this article is missing on alot info concerning Kodak's future. NPR had a piece about this 2 weeks back about Kodak's future, their bankruptcy and forthcoming LARGE layoffs. It also points out how times have changed when companies such as Kodak use to be large and innovate but now schools have taken up these tasks leaving them with just the core business.
IMO, Kodak will eventually become a small niche company and eventually die out because they just cannot earn enough margins to compete and survive. Upper management did a extremely poor job forecasting. This is the main reason the company is struggling.
RE: Never inovated
2/9/2012 5:07:40 PM
Pretty much agree. I see Kodak in the near future:
A) Getting bought for it's patents
B) Becoming even more of a patent troll as it continues to divest it's other businesses
The patents are it's one really valuable asset at this point.
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