The story of Kodak: the $30 billion mistake

When you think of photography equipment, the first brands that might pop up in your mind are Canon, Nikon, Sony, or Panasonic. All 4 of them are Japanese Giants in the digital camera market with almost 90% of the camera sales around the world. But it wasn’t always the case, not too long ago one of the most iconic American brands of the 20th century was the leader of the market and employed more than 120.000 people around the world. This is the story of Kodak and how it went from a $30 billion company to filing for bankruptcy.

Anticipating the market

Kodak or the Eastman Kodak Company is an American public company founded by George Eastman and Henry Strong in 1888. Sensing the end of the dry plate technology in the photography business, George Eastman invented the first usable photographic film patented in 1884. He later went on to develop the Kodak Camera, the first camera designed to use roll film which signed the birth of snapshot photography.

Kodak not only invented a relatively easy process that anyone could use to take pictures but it also became a reference when talking about photography. The very first Slogan says it all: “You…