Last week's news marks the end of a tumultuous two years for a company that was once synonymous with the photography industry. Following years of declining film sales and a slow adoption of digital photography, Kodak filed for bankruptcy in January 2012, citing a need to re-imagine the business in the face of $6.75 billion in debts. A series of sales and shut-downs followed, with the company selling its online gallery and document imaging businesses, while closing the doors on its desktop printing and iconic camera divisions. The company also sold more than 1,100 digital patents, initially valued at approximately $3 billion, to a consortium of businesses including Google and Apple for $525 million.
- Companies:
- Eastman Kodak Co.
- People:
- Antonio Perez
Kyle A. Richardson is the editorial director of Promo Marketing. He joined the company in 2006 brings more than a decade of publishing, marketing and media experience to the magazine. If you see him, buy him a drink.