Thursday, January 19, 2012
Having failed to adequately adapt to the digital age, Eastman Kodak Co. filed for Chapter 11 bankruptcy protection this week. Kodak had long been struggling: First, with the advent of digital cameras and then, with the emergence of smartphones that threatened to make even those devices obsolete. Most recently, drawn out intellectual property litigation added another drain on the company coffers. One-time rival Fujifilm began diversifying decades ago, branching out into manufacturing optical films for LCD screens and producing cosmetics. Yes, cosmetics. Apparently anti-oxidants developed to preserve collagen-containing photos also do wonders for the skin. Kodak, however, preferred to keep all of its prints in one stop bath, so to speak.