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Wikipedia

Kodak

April 02, 2024

Not to be confused with Kodiak.
For the company that owns the surviving photographic assets, based in Hertfordshire, UK, see Kodak Alaris. For other uses, see Kodak (disambiguation).

The Eastman Kodak Company, referred to simply as Kodak (/ˈkoʊdæk/), is an American public company that produces various products related to its historic basis in film photography. The company is headquartered in Rochester, New York, and is incorporated in New Jersey.[2] It is best known for photographic film products, which it brought to a mass market for the first time.[3]

Eastman Kodak Company
Headquarters in Rochester, New York
Company typePublic
Industry
PredecessorThe Eastman Dry Plate and Film Company
FoundedMay 23, 1892; 131 years ago (May 23, 1892)
Founders
HeadquartersKodak Tower
Rochester, New York, U.S.
Area served
Worldwide
Key people
James V. Continenza
(Executive chairman and CEO)
ProductsDigital imaging, photographic materials, equipment and services, batteries
Revenue US$1.12 billion (2023)
US$87 million (2023)
US$75 million (2023)
Total assets US$2.36 billion (2023)
Total equity US$931 million (2023)
Number of employees
4,000 (2023)
Websitekodak.com
Footnotes / references
[1]
Kodak 35mm film cartridge alongside Asahi Pentax film camera. The shift from film to digital greatly affected Kodak's business.
Kodacolor II 126 film cartridge, expiration year 1980.

Kodak began as a partnership between George Eastman and Henry A. Strong to develop a film roll camera. After the release of the Kodak camera, Eastman Kodak was incorporated on May 23, 1892.[4] Under Eastman's direction, the company became one of the world's largest film and camera manufacturers, and also developed a model of welfare capitalism and a close relationship with the city of Rochester.[5] During most of the 20th century, Kodak held a dominant position in photographic film, and produced a number of technological innovations through heavy investment in research and development at Kodak Research Laboratories.[6][7] Kodak produced some of the most popular camera models of the 20th century, including the Brownie and Instamatic.[8][9] The company's ubiquity was such that its "Kodak moment" tagline entered the common lexicon to describe a personal event that deserved to be recorded for posterity.[10]

Kodak began to struggle financially in the late 1990s as a result of increasing competition from Fujifilm.[11] The company also struggled with the transition from film to digital photography, although Kodak had developed the first self-contained digital camera.[12] Attempts to diversify its chemical operations failed, and as a turnaround strategy in the 2000s, Kodak instead made an aggressive turn to digital photography and digital printing.[13] These strategies failed to improve the company's finances, and in January 2012, Kodak filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Southern District of New York.[14][15][16]

In September 2013, the company emerged from bankruptcy, having shed its large legacy liabilities, restructured, and exited several businesses.[17] Since emerging from bankruptcy, Kodak has continued to provide commercial digital printing products and services,[18] motion picture film,[19] and still film,[20] the last of which is distributed through the spinoff company Kodak Alaris.[21] The company has licensed the Kodak brand to several products produced by other companies, such as the PIXPRO line of digital cameras manufactured by JK Imaging.[22] In response to the COVID-19 pandemic in 2020, Kodak announced in late July that year it would begin production of pharmaceutical materials.[23]

History edit

Name edit

The letter k was a favorite of George Eastman's; he is quoted as saying, "it seems a strong, incisive sort of letter."[24] He and his mother, Maria, devised the name Kodak using an Anagrams set. Eastman said that there were three principal concepts he used in creating the name: it should be short, easy to pronounce, and not resemble any other name or be associated with anything else. According to a 1920 ad, the name "was simply invented – made up from letters of the alphabet to meet our trade-mark requirements. It was short and euphonious and likely to stick in the public mind."[25] The Kodak name was trademarked by Eastman in 1888.[26] There was also a rumour that the name Kodak came from the sound made by the Kodak camera's shutter.[citation needed]

 
Kodak camera advertisement from 1888.
 
The Kodak factory and main office in Rochester, c. 1910.

Founding edit

 

Eastman entered a partnership with Henry Strong in 1880 and the Eastman Dry Plate Company was founded on January 1, 1881, with Strong as president and Eastman as treasurer.[27] Initially, the company sold dry plates for cameras, but Eastman's interest turned to replacing glass plates altogether with a new roll film process. On October 1, 1884, the company was re-incorporated as the Eastman Dry Plate and Film Company.[28] In 1885, Eastman patented the first practical film roll holder with William Walker, which would allow dry plate cameras to store multiple exposures in a camera simultaneously.[29] That same year, Eastman patented a form of paper film he called "American film".[30] Eastman would continue experimenting with cameras and hired chemist Henry Reichenbach to improve the film. These experiments would culminate in an 1889 patent for nitrocellulose film.[31] As the company continued to grow, it was re-incorporated several more times. In November 1889, it was renamed the Eastman Company and 10,000 shares of stock were issued for $100.[32] On May 23, 1892, another round of capitalization occurred and it was renamed Eastman Kodak.[4][33] An Eastman Kodak of New Jersey was established in 1901 and existed simultaneously with the Eastman Kodak of New York until 1936, when the New York corporation was dissolved and its assets were transferred to the New Jersey corporation.[34] Kodak remains incorporated in New Jersey today, although its headquarters is in Rochester.

The Kodak camera edit

 
An advertisement from The Photographic Herald and Amateur Sportsman (November 1889)
 
An original Kodak camera, complete with box, camera, case, felt lens plug, manual, memorandum and viewfinder card

In 1888, the Kodak camera was patented by Eastman. It was a box camera with a fixed-focus lens on the front and no viewfinder; two V shape silhouettes at the top aided in aiming in the direction of the subject. At the top it had a rotating key to advance the film, a pull-string to set the shutter, and a button on the side to release it, exposing the celluloid film. Inside, it had a rotating bar to operate the shutter. When the user pressed the button to take a photograph, an inner rope was tightened and the exposure began. Once the photograph had been taken, the user had to rotate the upper key to change the selected frame within the celluloid tape.[35]

The $25 camera came pre-loaded with a film roll of 100 exposures, and could be mailed to Eastman's headquarters in Rochester with $10 for processing. The camera would be returned with prints, negatives, and a new roll of film. Additional rolls were also sold for $2 to professional photographers who wished to develop their own photographs.[35] By unburdening the photographer from the complicated and expensive process of film development, photography became more accessible than ever before. The camera was an immediate success with the public and launched a fad of amateur photography.[33] Eastman's advertising slogan, "You Press the Button, We Do the Rest", soon entered the public lexicon, and was referenced by Chauncey Depew in a speech[33] and Gilbert and Sullivan in their opera Utopia, Limited.[36]

Expansion edit

 
Advertisement for a folding "pocket" Kodak camera (August 1900)

In the 1890s and early 1900s, Kodak grew rapidly and outmaneuvered competitors through a combination of innovation, acquisitions, and exclusive contracts. Eastman recognized that film would return more profit than the cameras that used them, and focused on control of the film market. This razor and blades model of sales would change little for several decades.[12][37] Larger facilities were soon needed in Rochester, and the construction of Kodak Park began in 1890.[34] Kodak purchased and opened several shops and factories in Europe, particularly in the United Kingdom. The British holdings were initially organized under the Eastman Photographic Materials Company. Beginning in 1898, they were placed under the holding company Kodak Limited.[38] An Australian subsidiary, Australia Kodak Limited, was established in 1908.[39] In 1931, Kodak-Pathé was established in France and Kodak AG was formed in Germany following the acquisition of Nagel.[40] The Brownie camera, marketed to children, was first released in 1900, and further expanded the amateur photography market.[41] One of the largest markets for film became the emerging motion picture industry. When Thomas Edison and other film producers formed the Motion Picture Patents Company in 1908, Eastman negotiated for Kodak to be sole supplier of film to the industry.[42] In 1914, Kodak built its current headquarters on State Street.[34] By 1922, the company was the second-largest purchaser of silver in the United States, behind the U.S. Treasury.[34] Beginning on July 18, 1930, Kodak was included in the Dow Jones Industrial Average.[43]

During World War I, Kodak established a photographic school in Rochester to train pilots for aerial reconnaissance.[44] The war strained supply chains, and Eastman sought out new chemical sources the company could have direct control over. At the war's end in 1920, Kodak purchased a hardwood distillation plant in Tennessee from the federal government and established Eastman Tennessee, which later became the Eastman Chemical Company.[34][45]

Henry Strong died in 1919, after which Eastman became the company president.[34] Eastman began to wind down his involvement in the daily management of the company in the mid-1920s, and formally retired in 1925, although he remained on the board of directors. William Stuber succeeded him as president, and managed the company along with Frank Lovejoy.[46]

 
An original autochrome color photo from 1917 advertising Kodak

In 1912, Kodak established the Kodak Research Laboratories at Building 3 in Kodak Park, with Kenneth Mees as director.[47] Research primarily focused on film emulsions for color photography and radiography. In 1915, Kodak began selling Kodachrome,[a] a two-color film developed by John Capstaff at the research lab.[47] Another two-color film duplitized film was marketed for photography of X-rays as it had a short exposure time and could reduce the dosage of radiation needed to take a photo.[48]

Labor relations edit

Kodak became closely tied to Rochester, where most of its employees resided, and was at the vanguard of welfare capitalism during the 1910s and 1920s.[5] Eastman implemented a number of worker benefit programs, including a welfare fund to provide workmen's compensation in 1910 and a profit-sharing program for all employees in 1912.[49][50] In 1919, he sold a large portion of his stock to company employees below market value.[51] The expansion of benefits continued after Eastman; in 1928, the company began offering life insurance, disability benefits, and retirement annuity plans for employees, at the behest of company statistician Marion Folsom.[52] Many other employers in the Rochester area took cues from Kodak and increased their own wages and benefits in order to remain competitive in the labor market.[53]

Eastman believed that offering these benefits served the interests of the company. He feared labor unions and believed that offering better compensation than that received by union workers would deter union organizing and avoid the potential costs of a company strike. Selling his stock to employees would simultaneously make it more appealing to investors, who were wary to purchase shares because of his large stake, and lower the price of the stock, which would keep anti-trust lawyers from investigating the company.[51] Because Kodak was a capital-intensive industry with a low labor-cost ratio, employee benefits contributed less to the company's expenses than they would in other industries.[51]

Employment opportunities were not extended to all Rochesterians. The company almost exclusively hired workers of an Anglo-Saxon background under Eastman,[51] and excluded Catholic immigrants, African-Americans,[54] and Jews.[55] Approximately one-third of employees were female.[51] A system of family hiring, where children of employees would be hired to follow their parents, reinforced the concept of an industrial community that Eastman sought to create.[51] These practices were not seriously challenged until after World War II. As a consequence of this shared background and the robust company benefits, Kodak employees formed a close community that viewed unions as outsiders, and no attempt to organize workers at Kodak succeeded during the 20th century.[56]

Great Depression edit

 
Kodak Camera Center, Tennessee, c. 1930–1945

Kodak was hard-hit by the Great Depression, although Rochester was spared from its worst effects as banks were able to remain solvent.[57] Seventeen percent of the company's employees were laid off between 1929 and 1933.[58] Company founder George Eastman committed suicide at his home on March 14, 1932, due to his declining health.[59] From 1931 to 1936, Kodak participated in the Rochester Plan, a privately-funded unemployment insurance program to assist the jobless and boost consumer spending. The program was created by Marion Folsom, who gained national recognition for his work and would later serve as a company director and cabinet secretary for Dwight D. Eisenhower. Payments were made between 1933 and 1936, when layoffs ended at Kodak. The program led to many statistical improvements at Kodak, but overall had an insignificant effect on the Rochester community, as few companies were willing to join the program.[57]

Research projects led to a number of new Kodak products in the 1930s. At Kodak Research Laboratories, Leopold Godowsky Jr. and Leopold Mannes invented a three-color film which would be commercially viable. In 1935, the product was launched as Kodachrome.[60] The company also produced industrial high-speed cameras and began to diversify its chemical operations by producing vitamin concentrates and plastics.[34][61] In 1934, Kodak entered a partnership with Edwin Land to supply polarized lenses,[62] after briefly considering an offer to purchase Land's patents.[63] Land would later launch the Polaroid Corporation and invented the first instant camera using emulsions supplied by Kodak.[64]

Frank Lovejoy succeeded William Stuber as company president in 1934, and Thomas Hargrave became president in 1941.[34]

World War II edit

After the American entry into World War II, Kodak ceased its production of amateur film and began supplying the American war effort at the direction of the War Production Board. The company produced film, cameras, microfilm, pontoons, synthetic fibers, RDX, variable-time fuses, and hand grenades for the government.[65]

Kodak's European subsidiaries continued to operate during the war. Kodak AG, the German subsidiary, was transferred to two trustees in 1941 to allow the company to continue operating in the event of war between Germany and the United States. The company produced film, fuses, triggers, detonators, and other materiel. Slave labor was employed at Kodak AG's Stuttgart and Berlin-Kopenick plants.[66] During the German occupation of France, Kodak-Pathé facilities in Severan and Vincennes were also used to support the German war effort.[67] Kodak continued to import goods to the United States purchased from Nazi Germany through neutral nations such as Switzerland. This practice was criticized by many American diplomats, but defended by others as more beneficial to the American war effort than detrimental. Kodak received no penalties during or after the war for collaboration.[66]

Manhattan Project edit

After a 1943 meeting between Kenneth Mees and Leslie Groves, a team of Kodak scientists joined the Manhattan Project and enriched Uranium-235 at Oak Ridge.[65]

Kodak's experiments with radiation would continue after the war. In 1945, a batch of X-ray film that the company processed mysteriously became fogged. Julian Webb, who had worked at Oak Ridge, proposed that the film had been exposed to radiation released by nuclear weapons tests. The source of the radiation was eventually traced to strawboard packaging from Vincennes, Indiana, which had been irradiated by fallout that had traveled thousands of miles northeast from the Trinity test site.[68] After this discovery, Kodak officials became concerned that fallout would contaminate more of their film, and began monitoring atmospheric radiation levels with rainwater collection at Kodak Park.[69] In 1951, the United States Atomic Energy Commission (AEC) began providing Kodak with a schedule of nuclear tests in exchange for its silence after the company threatened to sue the federal government for damage caused to film products.[70] Kodak was later contracted to create emulsions for radiation tests of fallout from nuclear tests.[69]

Post-war expansion edit

 
Kodak Retina Series Cameras were produced between 1949 until 1956. It also had the KodaChrome Technology
 
The Kodak 'K' logo was introduced in 1971. The version seen here – with the 'Kodak' name in a more modern typeface – was used from 1987 until the logo's discontinuation in 2006. A revised version was reintroduced in 2016.[71]

Kodak reached its zenith in the post-war era, as the usage of film for amateur, commercial, and government purposes all increased. In 1948, Tennessee Eastman created a working acetate film, which quickly replaced nitrate film in the movie industry because it was non-flammable.[72] In 1958, Kodak began marketing a line of super glue, Eastman 910.[73] Its cameras were used by NASA for crewed and uncrewed space exploration.[74] In 1963, the first Instamatic cameras[b] were sold, which were the company's lowest-cost cameras to date. Annual sales passed $1 billion in 1962 and $2 billion in 1966.[34] Albert K. Chapman succeeded Thomas Hargrave as president in 1952, and was succeeded by William S. Vaughn in 1960. Louis K. Eilers would serve as president and CEO between 1969 and 1972.[34] In the 1970s, Kodak published important research in dye lasers,[75] and patented the Bayer Filter method of RGB arrangement on photosensors.[76]

During the Cold War, Kodak participated in a number of clandestine government projects. Beginning in 1955 they were contracted by the CIA to design cameras and develop film for the U-2 reconnaissance aircraft under the Bridgehead Program.[77][78] Kodak was also contracted by the National Reconnaissance Office to produce cameras for surveillance satellites such as the KH-7 Gambit and KH-9 Hexagon.[79] Between 1963 and 1970, Kodak engineers worked on the cancelled Manned Orbiting Laboratory program, designing optical sensors for a crewed reconnaissance satellite. The company later performed a study for NASA on the astronomical uses of the equipment developed for MOL.[80]

Kodak doubled its number of employees worldwide between 1936 and 1966. The majority remained employed in Rochester, where it was the employer of choice for most. The company continued offering higher wages and more benefits than labor market competitors, including the annual wage dividend, a bonus for all employees which typically amounted to 15% of base salary.[81] Employee loyalty was strong, and the company experienced a turnover rate of only 13% in the 1950s, compared to 50% for American manufacturers as a whole. Journalist Curt Gerling noted that Kodak employees behaved like a separate class from other workers in Rochester, and "From the cradle infants are impressed with the fact that 'daddy is a Kodak man'; inferentially this compares with 'our father is a 33rd degree mason'".[82] A 1989 New York Times article compared Rochester to a company town.[83]

Kodak's business model changed little from the 1930s to the 1970s, as the company's dominant position made change unnecessary and it made no mergers or acquisitions which might bring new perspectives.[84][37] Research and development remained focused on products related to film production and development, which caused the company to fall behind rivals Polaroid and Xerox in the development of instant cameras and photocopiers. Kodak would begin selling its own versions of each in the mid-1970s, but neither became popular. Both product lines would be abandoned in the 1990s.[6]

Rivalry with Fujifilm edit

Japanese competitor Fujifilm entered the U.S. market with lower-priced film and supplies in the 1980s.[85] Fuji defeated Kodak in a bid to become the official film of the 1984 Los Angeles Olympics, which gave it a permanent foothold in the market.[11] Fuji opened a film plant in the U.S. and its aggressive marketing and price cutting began taking market share from Kodak, rising from a 10% share in the early 1990s to 17% in 1997.[11] Fuji also made headway into the professional market with specialty transparency films such as Velvia and Provia, which competed with Kodak's signature professional product, Kodachrome.

Encouraged by shareholders, the company began cutting benefits and making large layoffs to save money.[86] Despite the competition, Kodak's revenues and profits continued to increase during the 1990s, due to the strategy changes and an overall expansion of the global market. Under CEO George M. C. Fisher, Kodak's annual revenue peaked at $16 billion in 1996 and profits peaked at $2.5 billion in 1999.[85]

In May 1995, Kodak filed a petition with the US Commerce Department under section 301 of the Commerce Act arguing that its poor performance in the Japanese market was a direct result of unfair practices adopted by Fuji. The complaint was lodged by the United States with the World Trade Organization.[87] On January 30, 1998, the WTO announced a "sweeping rejection of Kodak's complaints" about the film market in Japan.

A price war between the two companies began in 1997, eating into Kodak's profits.[11] Kodak's financial results for 1997 showed that the company's revenues dropped from $15.97 billion in 1996 to $14.36 billion in 1997, a fall of more than 10%; its net earnings went from $1.29 billion to just $5 million for the same period. Kodak's market share declined from 80.1% to 74.7% in the United States, a one-year drop of five percentage points.[88]

Fuji and Kodak recognized the upcoming threat of digital photography, and although both sought to diversify as a mitigation strategy, Fuji was more successful at diversification.[85] Fuji stopped production of motion picture film in 2013, leaving Kodak as the last major producer.[19]

Shift to digital edit

 
Kodak logo from 2006 to 2016. It is still used by Kodak Alaris.

Kodak employee Steven Sasson developed the first handheld digital camera in 1975.[89][90] Larry Matteson, another employee, wrote a report in 1979 predicting a complete shift to digital photography would occur by 2010.[85] However, company executives were reluctant to make a strong pivot towards digital technology, since it would require heavy investment, make the core business of film unprofitable, and put the company into direct competition with established firms in the computer hardware industry.[91]

Under CEOs Colby Chandler and Kay Whitmore, Kodak instead attempted to diversify its chemical operations. Although these new operations were given large budgets, there was little long-term planning or assistance from outside experts, and most of them resulted in large losses.[92] Another effort to diversify failed when Kodak purchased Sterling Drug in 1988 at a cost of $5.1 billion. The drug company was overvalued and soon lost money.[93] Research and development at Kodak Research Laboratories was directed into digital technology during the 1980s, laying the groundwork for a future digital shift.[6]

In 1993, Whitmore announced the company would restructure, and he was succeeded by George M. C. Fisher, a former Motorola CEO, later that year.[94] Under Fisher, the company abandoned diversification in chemicals and focused on an incremental shift to digital technology.[85][91] Tennessee Eastman was spun off as Eastman Chemical on January 1, 1994,[95] and Sterling Drug's remaining operations were sold in August 1994.[96] Eastman Chemical later became a Fortune 500 company in its own right.[97] A key component of the incremental strategy was Kodak's line of digital self-service kiosks installed in retail locations, where consumers could upload and edit photos, as a replacement for traditional photo developers. Kodak also began manufacturing digital cameras, such as the Apple QuickTake.[91] Film sales continued to rise during the 1990s, delaying the digital transition from occurring faster.[91]

In 2001, film sales began to fall.[98] Under Daniel Carp, Fisher's successor as CEO, Kodak made an aggressive move in the digital camera market with its EasyShare family of digital cameras. By 2005, Kodak ranked No. 1 in the U.S. in digital camera sales, which surged 40% to $5.7 billion.[98] The company also began selling digital medical image systems after acquiring the Israel-based companies Algotec Systems and OREX Computed Radiography.[99][100] Despite the initial high growth in sales, digital cameras had low profit margins due to strong competition,[98][101] and the market rapidly matured. Its digital cameras soon were undercut by Asian competitors that could produce and sell cheaper products. Many digital cameras were sold at a loss as a result.[102] The film business, where Kodak enjoyed high profit margins, also continued to fall. The combination of these two factors caused a decline in profits.[98] By 2007, Kodak had dropped to No. 4 in U.S. digital camera sales with a 9.6% share, and by 2010, had dropped to a 7% share, in seventh place behind Canon, Sony, Nikon, and others, according to research firm IDC.[97] An ever-smaller share of digital pictures were being taken on dedicated digital cameras, being gradually displaced by cameras on cellphones, smartphones, and tablets. Digital camera sales peaked in 2007 and declined afterwards.[103]

New strategy edit

 
Kodak's main headquarters in Rochester, New York

Kodak began another strategy shift after Antonio Pérez became CEO in 2005. While Kodak had previously done all development and manufacturing in-house, Pérez shut down factories and outsourced or eliminated manufacturing divisions. Kodak agreed to divest its digital camera manufacturing operations to Flextronics in August 2006, including assembly, production and testing.[104][105] The company exited the film camera market altogether, and began to end the production of film products.[13][106][107] In total, 13 film plants and 130 photo finishing facilities were closed, and 50,000 employees laid off between 2004 and 2007.[108] In 2009, Kodak announced that it would cease selling Kodachrome color film, ending 74 years of production, after a dramatic decline in sales.[109][110]

Pérez invested heavily in digital technologies and new services that capitalized on its technology innovation to boost profit margins.[98] He also spent hundreds of millions of dollars to build up a high-margin printer ink business to replace falling film sales, a move which was widely criticized due to the amount of competition present in the printer market, which would make expansion difficult.[111] Kodak's ink strategy rejected the razor and blades business model used by dominant market leader Hewlett-Packard by selling expensive printers with cheaper ink cartridges.[112] In 2011, these new lines of inkjet printers were said to be on verge of turning a profit, although some analysts were skeptical as printouts had been replaced gradually by electronic copies on computers, tablets, and smartphones.[112] Inkjet printers continued to be viewed as one of the company's anchors after it entered bankruptcy proceedings. However, in September 2012 declining sales forced Kodak to announce an exit from the consumer inkjet market.[113]

Bankruptcy edit

Kodak's finances and stock value continued to decline, and in 2009 the company negotiated a $300 million loan from KKR.[114] A number of divisions were sold off to repay debts from previous investments, most notably the Kodak Health Group, one of the company's profitable units.[108][115] Kodak used the $2.35 billion from the sale to fully repay its approximately $1.15 billion of secured term debt. Around 8,100 employees from the Kodak Health Group transferred to Onex, which was renamed Carestream Health. In 2010, Kodak was removed from the S&P 500.[116]

In the face of growing debts and falling revenues, Kodak also turned to patent litigation to generate revenue.[13][117] In 2010, it received $838 million from patent licensing that included a settlement with LG.[12] Between 2010 and 2012, Kodak and Apple sued each other in multiple patent infringement lawsuits.[118][119][120]

By 2011, Kodak was rapidly using up its cash reserves, stoking fears of bankruptcy; it had $957 million in cash in June 2011, down from $1.6 billion in January 2001.[121] Later that year, Kodak reportedly explored selling off or licensing its vast portfolio of patents to stave off bankruptcy.[121] In December 2011, two board members who had been appointed by KKR resigned.[114] By January 2012, analysts suggested that the company could enter bankruptcy followed by an auction of its patents, as it was reported to be in talks with Citigroup to provide debtor-in-possession financing.[15][122] This was confirmed on January 19, 2012, when the company filed for Chapter 11 bankruptcy protection and obtained a $950 million, 18-month credit facility from Citigroup to enable it to continue operations.[16][14][15] Under the terms of its bankruptcy protection, Kodak had a deadline of February 15, 2013, to produce a reorganization plan.[123] In January 2013, the Court approved financing for Kodak to emerge from bankruptcy by mid 2013.[124][125]

During bankruptcy proceedings, Kodak sold many of its patents for approximately $525 million to a group of companies (including Apple, Google, Facebook, Amazon, Microsoft, Samsung, Adobe Systems, and HTC) under the names Intellectual Ventures and RPX Corporation.[126][127] Kodak announced that it would end the production of several products, including digital cameras, pocket video cameras, digital picture frames, and inkjet printers.[128][113][129][130][131] As part of a settlement with the UK-based Kodak Pension Plan, Kodak agreed to sell its photographic film, commercial scanners, and photo kiosk operations, which were reorganized as a spinoff company, Kodak Alaris.[17][18][132] The Image Sensor Solutions (ISS) division of Kodak was sold to Truesense Imaging Inc.[133]

On September 3, 2013, Kodak announced that it emerged from bankruptcy as a technology company focused on imaging for business.[134] Its main business segments would be Digital Printing & Enterprise and Graphics, Entertainment & Commercial Films.[135]

Kodak's decline and bankruptcy were damaging to the Rochester area. Its jobs were largely replaced with lower-paying ones, contributing to a high poverty rate in the city.[136] Between 2007 and 2018, real GDP losses from Kodak canceled out the growth in all other sectors in Rochester.[137]

Post-bankruptcy edit

On March 12, 2014, Kodak announced that Jeffrey J. Clarke had been named as chief executive officer and a member of its board of directors.[138][139][140] At the end of 2016, Kodak reported its first annual profit since bankruptcy.[141]

In recent years, Kodak has licensed its brand to a number of other companies. The California-based company JK Imaging has manufactured Micro Four-Thirds cameras under the Kodak brand since 2013.[22][142] The Kodak Ektra, a smartphone, was designed by the Bullitt Group and launched in 2016.[143] Digital tablets were announced with Archos in 2017.[144] In 2018, Kodak announced two failed cryptocurrency products; the cryptocurrency KodakCoin, which was developed by RYDE Holding, Inc.,[145] and the Kodak Kashminer, a Bitcoin-mining computer which was developed by Spotlite.[146]

In 2016, the Kodak spinoff company eApeiron was founded with assets acquired from Kodak and an investment by Alibaba. The company's mission is to eliminate “knock offs” and promote authenticity.[147]

Despite the pivot to digital technology, film remains a major component of Kodak's business. The company continues to supply film to the motion picture industry after signing new agreements with major studios in 2015 and 2020.[19] In 2022, Kodak announced it would hire new film technicians after film photography experienced a revival among hobbyists.[20][148]

Current products and services edit

Kodak is currently arranged in four business reporting segments: Traditional Print, Digital Print, Advanced Material & Chemicals (including Motion Picture) and Brand (Brand licensing of consumer products produced by third parties).[149]

Kodak is the primary provider of film stock to the American motion picture industry,[19] and also provides packaging, functional printing, graphic communications, and professional services for international businesses.[150]

Kodak Alaris, UK holds the rights to still photographic films and the Kodak Moments photo kiosk businesses which formed part of the 2012 bankruptcy settlement. They also held the rights to the Photo Paper, Photochemicals, Display and Software businesses (PPDS) but sold these to Sino Promise, China in 2020.[151] In 2023 Sino Promise relinquished the photochemical rights which reverted back to Eastman Kodak, who re-licensed them (see brand).

Advanced Material & Chemicals edit

Materials edit

  • KodaCOLOR Fabric Inks
  • KodaLUX Fabric coating
  • Silver Anti-microbial materials and coating

Chemicals edit

  • Toll manufacture of specialty chemicals

Industrial Films edit

  • Kodak Aerocolor IV 125 2460 Color Negative Aerial Film
  • Kodak ACCUMAX plotter films for printed circuit boards
  • Kodak ESTAR polyester films

Motion Picture edit

Many modern cinema and TV productions are still being shot on Kodak film stocks.[152]

Motion Picture camera films are produced in 8mm, 16mm and 35mm. In addition to Camera films listed below a number of motion picture technical stocks are also produced e.g inter-negatives, duplication sound and final print films, together with the process chemicals.[153]

Camera Films

  • Black & White Negative Stock
    • Kodak Double X 5222/7222
  • Black & White Reversal Stock
  • Colour Negative Stocks
    • Kodak Vision 3 50D 5203/7203
    • Kodak Vision 3 250D 5207/7207
    • Kodak Vision 3 200T 5213/7213
    • Kodak Vision 3 500T 5219/7219
  • Colour Reversal Stocks

Still Film edit

The manufacture of Kodak branded still films are procured by Kodak Alaris from Eastman Kodak. Kodak Alaris hold the rights to the sale, marketing and distribution of these products.[21]

Eastman Kodak also undertake contract coating and/or packaging for other still film brands, including Cinestill (remjet free versions of color movie films), Lomography color negative films and Fujifilm, who from 2022 procured production of some color negative films from their former business rival. Due to shortage of still films, 35mm motion picture stock has also been made available to still film consumers by 3rd parties such as Flic Film.[154][better source needed]

Kodak currently produces several photographic film products in 35mm and 120 film formats. In response to the growing demand for film by hobbyists, Kodak launched a newly formulated version of the discontinued Ektachrome 100 in 35mm film format in September 2018.[155][156] The following year, the company announced the film stock in 120 and 4x5 film formats.[157]

  • B&W Negative Film
  • Color Negative Film (Consumer)
    • Kodak ColorPlus/Kodacolor 200
    • Kodak ProImage 100
    • Kodak Gold 200
    • Kodak Ultramax 400
    • Kodak Ultramax 800 (Single use cameras)
  • Color Negative Film (Professional)
    • Kodak Ektar 100
    • Kodak Portra 160
    • Kodak Portra 400
    • Kodak Portra 800
  • Color Reversal Film

Reversal film or slide film is a type of photographic film that produces a positive image on a transparent base.

Traditional and digital printing edit

Kodak produces commercial inkjet printers, electrophotographic printing equipment, and related consumables and services.[158] At present, Kodak sells the Prosper, Nexfinity, and Uteco lines of commercial printers,[159] and the Prosper and Versamark imprinting systems.[159][160][161] Kodak designs and manufactures products for flexography printing through its Flexcel brand.[162] The company has also sold a line of computer to plate (CTP) devices since 1995.[163]

The company currently has partnerships with touch-panel producers for functional printing, including ones with UniPixel announced on April 16, 2013, and Kingsbury Corp. launched on June 27, 2013.[164][165][166]

In 1997, Heidelberg Printing Machines AG and Eastman Kodak Co. created Nexpress Solutions LLC, a joint venture to develop a digital color printing press for the high-end market segment. Heidelberg acquired Eastman Kodak Co.'s Office Imaging black and white digital printing activities in 1999.[167] In March 2004, Heidelberg transferred its Digital Print division to Kodak under mutual agreement.[168]

 
A Kodak NexPress 2500 digital printing press

Brand edit

The Kodak brand is licensed to several consumer products produced by other companies, such as the PIXPRO line of digital cameras manufactured by JK Imaging.[169]

Batteries edit

 
Kodak 9V battery

Kodak licenses its brand on alkaline, lithium, hearing aid and button cell batteries.[170]

Professional Photo Chemistry edit

The brand rights to Kodak professional photo chemistry, passed to Kodak Alaris in 2012 as part of the bankruptcy settlement. In 2020 Alaris sold these rights to Sino Promise, China a supplier of the color chemistry for minilabs. However in early 2023 Sino Promise decided to exit the business. This enabled Photo Systems Inc. US, who had been a manufacturer of some of the products for Kodak Alaris, to acquire the brand rights directly from Eastman Kodak in September 2023, with the intent to re-introduce the full range of Black & White, C-41, RA-4 and E6 photochemistry.[171]

Former products and services edit

 
A Kodak Instamatic 104
 
1900 Kodak ad

Photographic film and paper edit

Kodak continues to produce specialty films and film for newer and more popular consumer formats, but it has discontinued the manufacture of film in most older formats. Among its most famous discontinued film brands was Kodachrome.[109][110]

Kodak was a leading producer of silver halide paper used for printing from film and digital images.[citation needed] In 2005, Kodak announced it would stop producing black-and-white photo paper.[172] All paper manufacturing operations were transferred to Kodak Alaris in 2013.[173]

Still film cameras edit

Kodak sold film cameras from the time of its founding until 2007, beginning with the Kodak no. 1 in 1888.[35] In the 20th century, Kodak's most popular models were the Brownie, sold between 1900 and 1986,[8] and the Instamatic, sold between 1968 and 1988.[9]

Between 1914 and 1932, an autographic feature on Kodak cameras provided a means for recording data on the margin of the negative at the time of exposure.[34][174]

In 1982, Kodak launched a newly-developed disc film cameras. The cameras initially sold well due to their compact size, but were unpopular due to their poor image quality, and were discontinued in 1988.[175]

 
Kodak Automatic 8 film camera

On January 13, 2004, Kodak announced it would stop marketing traditional still film cameras (excluding disposable cameras) in the United States, Canada and Western Europe, but would continue to sell film cameras in India, Latin America, Eastern Europe and China.[13] By the end of 2005, Kodak had ceased manufacturing cameras that used the Advanced Photo System. Kodak licensed the manufacture of Kodak branded cameras to Vivitar in 2006.[176]

Slide projectors edit

Kodak purchased a concept for a slide projector from Italian-American inventor Louis Misuraca in the early 1960s.[177] The Carousel line of slide projectors was launched in 1962, and a patent was granted to Kodak employee David E. Hansen in 1965.[178] Kodak ended the production of slide projectors in October 2004.[179]

One early Kodak product bridging digital technology with projection techniques was the Kodak Datashow, featuring a translucent liquid crystal display panel that was placed on an overhead projector instead of a conventional transparency, with the panel being connected to the display card of a personal computer to accept its video output. This arrangement permitted the computer's display to be projected onto a projection screen or wall, making it suitable for viewing by audiences of more than "a handful of people". Limitations included the monochrome nature of the panel along with a lack of resolution and contrast. However, at just above the "psychologically important £1,000 mark", the product was competitive when considering the pricing of larger colour monitors appropriate for group viewing.[180]

Instant cameras edit

Kodak was the exclusive supplier of negatives for Polaroid cameras from 1963 until 1969, when Polaroid chose to manufacture its own instant film. In 1976, Kodak began selling its own line of EK instant camera models. These were followed by the Colorburst in 1979 and the Kodamatic in 1982. After losing a patent battle with Polaroid Corporation, Kodak left the instant camera business in 1986.[181]

Image sensors edit

In the early 1970s, Kodak began research into CCD sensor image sensors. Kodak developed the first megapixel sensor in a 2/3 inch format, which was marketed in the Videk Megaplus Camera in 1987.[182] In 1991, the KAF-1300, a 1.3 megapixel sensor, was used in Kodak's first commercially sold digital camera, the DCS-100.[183] The company began producing its first CMOS image sensors in 2005.[184]

The Bayer filter, a method of RGB color display for image sensors, was patented by Kodak scientist Bryce Bayer in 1976.[76] In 2007, a successor to the Bayer filter for digital cameras was created by company scientists John Compton and John Hamilton, which added white pixels to the RGB display.[185]

In 2011, Kodak sold its Image Sensor Solutions business to Platinum Equity, which was renamed Truesense shortly after.[186][187]

Floppy disks edit

In 1983, Kodak introduced a non-standard 3.3 million byte diskette; it was manufactured by an outside company, DriveTec.[188] Another was announced in 1984.[189] Kodak's 1985 purchase of Verbatim,[190] a floppy disk manufacturer with over 2,000 employees,[191] expanded their presence. Part of this acquisition was Verbatim's Data Encore unit, which "copies software onto floppy disks in a way that makes it difficult for software 'pirates' to re-copy the material."[192]

In 1990 Kodak exited the diskette business and sold Verbatim to Mitsubishi Kasei, the forerunner of Mitsubishi Chemical Corporation. Kodak held onto Verbatim's optical disk unit.[193]

Digital cameras edit

Main articles: Kodak DCS and Kodak EasyShare
 
A Kodak Easyshare Z1015 IS digital camera

The Kodak DCS series of digital single-lens reflex cameras and digital camera backs were released by Kodak in the 1990s and 2000s, and discontinued in 2005.[194] They were based on existing 35mm film SLRs from Nikon and Canon.[195] In 2003, the Kodak EasyShare series was launched. Kodak extensively studied customer behavior, finding that women in particular enjoyed taking digital photos but were frustrated by the difficulty in moving them to their computers. Kodak attempted to fill this niche with a wide range of products which made it easy to share photos via PCs. One of their key innovations was a printer dock which allowed consumers to insert their cameras into a compact device and print photos with the press of a button.[98] In April 2006, Kodak introduced the Kodak EasyShare V610, at that time the world's smallest 10× (38–380 mm) optical zoom camera at less than 2.5 cm (an inch) thick.[196][197]

Many of Kodak's early compact digital cameras were designed and built by Chinon Industries, a Japanese camera manufacturer. In 2004, Kodak Japan acquired Chinon and many of its engineers and designers joined Kodak Japan.[198] In July 2006, Kodak announced that Flextronics would manufacture and help design its digital cameras.[199][200]

Kodak ended the production of its digital cameras in 2012.[128]

Digital picture frames edit

Kodak first entered the digital picture frame market with the Kodak Smart Picture Frame in the fourth quarter of 2000. It was designed by Weave Innovations and licensed to Kodak with an exclusive relationship with Weave's StoryBox online photo network.[201] Smart Frame owners connected to the network via an analog telephone connection built into the frame. The frame could hold 36 images internally and came with a six-month free subscription to the StoryBox network.[202]

Kodak re-entered the digital photo frame market at CES in 2007 with the introduction of four new EasyShare-branded models, some of which included Wi-Fi capability to connect with the Kodak Gallery.[203] Kodak ended the production of digital picture frames in 2012.[204]

Kodak Gallery edit

Main article: Kodak Gallery

In June 2001, Kodak purchased the photo-developing website Ofoto, later renamed Kodak Gallery. The website enabled users to upload their photos into albums, publish them into prints, and create mousepads, calendars, and other products. On March 1, 2012, Kodak announced that it sold Kodak Gallery to Shutterfly for $23.8 million.[205]

Light-emitting diodes edit

Kodak research into LED technology produced a number of innovations beginning in the 1980s. In 1986, Kodak unveiled the first high-volume LED printer.[206] Kodak chemists Ching Wan Tang and Steven Van Slyke created the first practical organic light-emitting diode (OLED) in 1987.[207][208] In 1999, Kodak entered a partnership with Sanyo to produce OLED displays.[209] Kodak sold its OLED business unit to LG Electronics in December 2009.[210]

Medical technology edit

Kodak's first radiographic film was produced in 1896.[48]

In the 1970s, Kodak developed the Ektachem Analyzer, a clinical chemistry analyzer. The devices were first sold in 1980 after receiving FDA approval.[211]

In 2007 Kodak agreed to sell Kodak Health Group to Onex Corporation for $2.35 billion in cash, and up to $200 million in additional future payments if Onex achieved specified returns on the acquisition.[212] The sale was completed May 1.[115]

Document imaging edit

Kodak's involvement in document imaging technology began when George Eastman partnered with banks to image checks in the 1920s. Kodak subsidiary Recordak was founded in 1928 to manufacture some of the first microfilm.[65][213] Kodak acquired the Bowe Bell & Howell scanner division in 2009.[214] The Document Imaging division was transferred to Kodak Alaris in 2013.[17]

Photocopiers and duplicators edit

Kodak entered the plain paper photocopier market in 1975 with the Kodak Ektaprint 100 Copier-Duplicator.[215] In 1986 they announced the Ektaprint 235 copier-duplicator, capable of producing 5,100 copies per hour, and the Ektaprint 300, capable of producing 6,000 copies per hour.[216] In 1988 IBM exited the Photocopier industry, selling its interests to Kodak for an undisclosed sum.[217] On Sept. 10, 1996 Kodak announced it was selling its Copier business to Danka for $684 million in cash.[218]

Consumer inkjet printers edit

Kodak entered into consumer inkjet photo printers in a joint venture with manufacturer Lexmark in 1999 with the Kodak Personal Picture Maker.[citation needed] In February 2007, Kodak re-entered the market with a new product line of All-in-One (AiO) inkjet printers that employ several technologies marketed as Kodacolor Technology. Advertising emphasized low price for ink cartridges rather than for the printers themselves.[219] The printers failed to become profitable and were a major contributor to the company's bankruptcy in 2012.[111][112] Kodak announced plans to stop selling inkjet printers in 2013 as it focused on commercial printing.[220]

Photo kiosks edit

Kodak's first self-service kiosk opened in 1988. The Picture Maker line of kiosks was launched in 1994 for digital prints.[91] Kiosks were installed in retail locations to provide a digital equivalent to the company's film processing locations. Over time, additional features for image editing and products were added, such as the ability to remove red-eye effect from portraits.[221] The PYNK Smart Print System, announced in 2010, would allow customers to create collages on-demand. Over 100,000 kiosks were installed worldwide during the 1990s and 2000s.[222] The photo kiosks were transferred to Kodak Alaris as part of the Personalized Imaging division in 2013.[17]

Photography On Demand edit

After two years in development, Kodak launched an on-demand photography service platform, Kodakit, in early 2016. The launch was formally announced in January 2017 at CES.[223] Kodakit initially targeted consumers for wedding and portrait photography, but soon shifted towards businesses seeking high volume photography – real estate, food photography, and head shots. The platform was criticized for requiring photographers to relinquish copyright of their works.[224] After failing to generate enough traction, the Singapore-based subsidiary announced that it would cease operations in January 2020.[224]

Motion picture and TV production edit

In addition to the home market-oriented 8mm and Super 8 formats developed by Kodak in the 1950s and 1960s, which are still sold today,[225] Kodak also briefly entered the professional television production video tape market in the mid-1980s under the product portfolio name of Eastman Professional Video Tape Products.[226]

Kodak previously owned the visual effects film post-production facilities Cinesite in Los Angeles and London and LaserPacific in Los Angeles. In April 2010, Kodak sold LaserPacific and its subsidiaries Laser-Edit, Inc, and Pacific Video, Inc., for an undisclosed sum to TeleCorps Holdings, Inc.[227] In May 2012, Kodak sold Cinesite to Endless LLP, an independent British private equity house.[228] Kodak also sold Pro-Tek Media Preservation Services, a film storage company in Burbank, California, to LAC Group in October 2013.[229]

Operations edit

Since 2015, Kodak has had five business divisions: Print Systems, Enterprise Inkjet Systems, Micro 3D Printing and Packaging, Software and Solutions, and Consumer and Film.[230]

Kodak's corporate headquarters are located at Kodak Tower in downtown Rochester. Its primary manufacturing facility in the United States is Eastman Business Park, where film production occurs.[231]

Subsidiaries edit

 
Six-20 Brownie Junior camera, Kodak Ltd., UK, 1934–1938. National Museum of Scotland, Edinburgh, Scotland, UK

Kodak Teenage Film Awards edit

Since 1962,[240] Kodak, with University Film Association,[241] Council on International Nontheatrical Events,[242] and University Film Foundation,[242] presented the annual Teenage Film Awards [243][244][245]

"Entrant must be no older than 19; film may be 8mm, super 8, or 16mm, on any subject;."[246][247]

Eric Goldberg's Super-8 film won 1974's Grand Prize.[248][249] KBYU-TV director of broadcast production, Jay Sumsion, won second place in 1971.[250] Charles S. Cohen and Carl Weingarten were awarded Honorable Mentions.

Notable people edit

Leadership edit

 
George Eastman
Name Title Tenure
Henry A. Strong President 1884 – July 26, 1919
George Eastman President 1921 – April 7, 1925
William G. Stuber President 1925–1934
Frank W. Lovejoy President 1934–1941
Thomas J. Hargrave President 1941–1952
Albert K. Chapman President 1952–1960
William S. Vaughn President and CEO 1960 – December 31, 1968
Louis K. Eilers President and CEO January 1, 1969 – May 17, 1972
Robert Moyer President 1976–1989
Gerald B. Zornow Chairman 1970–1984
Walter A. Fallon CEO May 18, 1972 – 1983
Colby H. Chandler CEO May 1983 – June 1990
Kay R. Whitmore CEO June 1990 – October 27, 1993
George M. C. Fisher CEO October 28, 1993 – December 31, 1999
Daniel A. Carp CEO January 1, 2000 – May 31, 2005
Antonio M. Pérez Chairman and CEO June 1, 2005 – 2014
Jeff Clarke CEO March 12, 2014 – February 21, 2019
Jim Continenza Executive chairman February 21, 2019 – present

Board of directors edit

As of July 2022:[251]

  • James Continenza, chairman and CEO of Kodak
  • B. Thomas Golisano, founder and former president of Paychex
  • Philippe Katz, UECC executive
  • Katherine B. Lynch, former COO of UBS
  • Jason New, co-CEO of Onex Credit
  • Darren L. Richman, co-founder of KLIM investment group
  • Michael E. Selick, Jr., president of SeaAgri Solutions

Scientists edit

Photographers edit

Archive donation edit

See also: George Eastman House

In 2005, Kodak Canada donated its entire historic company archives to Ryerson University in Toronto, Ontario, Canada. The Ryerson University Library also acquired an extensive collection of materials on the history of photography from the private collection of Nicholas M. and Marilyn A. Graver of Rochester, New York.[252] The Kodak Archives, begun in 1909, contain the company's Camera Collection, historic photos, files, trade circulars, Kodak magazines, price lists, daily record books, equipment, and other ephemera. It includes the contents of the Kodak Heritage Collection Museum, a museum established in 1999 for Kodak Canada's centennial that Kodak closed in 2005 along with the company's entire "Kodak Heights" manufacturing campus in Mount Dennis, Toronto.[253]

Controversies and lawsuits edit

Early legal issues edit

Patent infringement edit

Kodak encountered a number of challenges from rival patents for film and cameras. These began while Eastman was still developing his first camera, when he was forced to pay inventor David Houston for a license on his pre-existing patents.[254] A major lawsuit for patent infringement would come from rival film producer Ansco. Inventor Hannibal Goodwin had filed his own patent for nitrocellulose film in 1887, prior to the one owned by Kodak, but his was initially denied by the patent office. In 1898, Goodwin succeeded in convincing the patent office to change its decision and his patent was granted.[255] Ansco purchased the patent in 1900 and sued Kodak for infringement in 1902. The lawsuit spent over a decade in court and was finally settled in 1914 at a cost of $5 Million for Kodak.[256][257]

Anti-trust lawsuit edit

In 1911, the federal government began an anti-trust investigation into Kodak for exclusive contracts, acquisitions of competitors, and price-fixing. Eastman had cautioned the board of directors against eliminating competition, but believed that many of the company's other monopolistic actions were in the best interest of consumers by allowing the company to produce high-quality products.[258] The investigation resulted in a lawsuit against Kodak in 1913 and a consent decree in 1921, ordering Kodak to stop fixing prices and sell many of its interests.[259]

FIGHT edit

Prior to the civil rights movement, Kodak hired virtually no African-American employees.[54] In the 1950s, Rochester's African-American population grew rapidly, rising from 7,845 in 1950 to around 40,000 in 1964.[260] Many objected to Kodak's discriminatory hiring practices and organized to end the status quo. The civil rights organization F.I.G.H.T. (Freedom, Integration, God, Honor—Today) was formed in 1965 by Saul Alinsky, and led by Minister Franklin Florence. The organization protested Kodak and successfully negotiated an agreement with the company to hire 600 African-American workers through a job training program in 1967.[260][261]

Polaroid Corporation v. Eastman Kodak Company edit

Kodak and Polaroid were partners from the 1930s until the 1960s, with Polaroid purchasing large quantities of film from Kodak for its cameras and further research and development. Their cooperative partnership came to an end in the late 1960s, when Polaroid pursued independent production of its film and Kodak expressed an interest in developing its own instant camera, bringing them into direct competition.[262] In 1976, Kodak unveiled the EK series of instant cameras.[263] Shortly after the announcement, Polaroid filed a complaint for patent infringement in the U.S. District Court District of Massachusetts,[264] beginning a lawsuit which would last a decade. Polaroid Corporation v. Eastman Kodak Company was decided in Polaroid's favor in 1985,[265] and after a short period of appeals, Kodak was forced to exit the instant camera market immediately in 1986.[266] On October 12, 1990, Polaroid was awarded $909 million in damages.[181] After appeals, Kodak agreed to pay Polaroid $925 million in 1991, then the largest settlement for patent infringement in US history.[267]

Pollution edit

In the 1980s, contamination from silver and other chemicals was discovered in the land around Kodak Park and the nearby Genesee River. In 1989, a pipeline at the edge of the park burst, contaminating a nearby school with about 30,000 gallons of methylene chloride. Many families living near the factories chose to relocate as a result. Kodak pledged $100 million to study and clean up pollution.[83] The company received a $2.15 million fine from the state of New York for illegally disposing of silver-contaminated soil and failing to disclose chemical spills in 1990, the largest environmental fine ever issued by the state at the time.[268] Kodak remained a heavy air and water polluter during the 1990s.[269]

In the 1990s, an elementary school was built on the site of the former Kodak factory at Vincennes in France. After three cases of pediatric cancer were reported at the school, an INVS investigation was opened into potential carcinogens left behind from the factory. The school was closed in 2001, but no link between the cancers and factory pollutants was established by medical experts. The school reopened in 2004.[270]

In a 2014 settlement with the EPA, Kodak provided $49 million to clean up pollution it had caused in the Genesee River and at superfund sites in New York and New Jersey.[271]

Departure from Better Business Bureau edit

In 2006, Kodak notified the BBB of Upstate New York that it would no longer accept or respond to consumer complaints submitted by them.[272] On March 26, 2007, the Council of Better Business Bureaus (CBBB) announced that Eastman Kodak was resigning its national membership in the wake of expulsion proceedings initiated by the CBBB board of directors.[272] Kodak said its customer service and customer privacy teams concluded that 99% of all complaints forwarded by the BBB already were handled directly with the customer, and that the BBB had consistently posted inaccurate information about Kodak.[273]

Pharmaceuticals loan edit

On July 28, 2020, the Trump administration announced that it planned to give Kodak a $765 million loan for manufacturing ingredients used in pharmaceuticals, to rebuild the national stockpile depleted by the COVID-19 pandemic and reduce dependency on foreign factories. Kodak had not previously manufactured any such products.[23] The funding would come through U.S. International Development Finance Corporation and was arranged by presidential trade advisor Peter Navarro.[274][275] Within two days, the company's stock price had gained as much as 2,189% from its price at the close of July 27 on the NYSE.[276]

The New York Times reported that one day before the White House announced the loan, Kodak CEO Jim Continenza was given 1.75 million stock options, some of which he was able to execute immediately.[277] The funding was put on hold as the U.S. Securities and Exchange Commission began probing allegations of insider trading by Kodak executives ahead of the deal's announcement,[278] and the funding agency's inspector general announced scrutiny into the loan terms.[279] In November, CEO Jim Continenza stated that Kodak was still committed to pharmaceutical manufacturing without the loan.[280] The DFC concluded no wrongdoing on its part in December.[281] Continenza and other executives were ordered to testify as part of the SEC investigation in June 2021.[282] A class-action lawsuit from Kodak investors was dismissed in 2022.[283]

Xinjiang social media post edit

In July 2021, Kodak removed a post on Xinjiang from its Instagram page. The photo was taken by the photographer Patrick Wack who describes the region as an "Orwellian dystopia" in a reference to the persecution of Uyghurs in China. In later statements on Instagram and WeChat, Kodak declared its Instagram page was not a "platform for political commentary" and affirmed their "close cooperation with various [Chinese] government departments".[284][285]

See also edit

Notes edit

  1. ^ Not to be confused with the more famous Kodachrome, first sold in 1935
  2. ^ Not to be confused with Instant Cameras

References edit

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Bibliography edit

Further reading edit

  • Ackerman, Carl William, George Eastman: founder of Kodak and the photography business, Beard Books, Washington, DC, 2000.
  • Binant, Philippe, Au coeur de la projection numérique, Actions, 29, 12–13, Kodak, Paris, 2007.

External links edit

 
Wikimedia Commons has media related to Kodak.
  • Official website
  • Kodak Camera Catalog Info at Historic Camera May 24, 2013, at the Wayback Machine
  • Literature published by Kodak at Monroe County Genealogy
  • Cercle des Conservateurs de l’Image Latente, an archive of Kodak-Pathé materials maintained by former employees
  • Business data for Kodak:
    • Bloomberg
    • Google
    • Reuters
    • SEC filings
    • Yahoo!

April 02, 2024
kodak, confused, with, kodiak, company, that, owns, surviving, photographic, assets, based, hertfordshire, alaris, other, uses, disambiguation, eastman, company, referred, simply, american, public, company, that, produces, various, products, related, historic,. Not to be confused with Kodiak For the company that owns the surviving photographic assets based in Hertfordshire UK see Kodak Alaris For other uses see Kodak disambiguation The Eastman Kodak Company referred to simply as Kodak ˈ k oʊ d ae k is an American public company that produces various products related to its historic basis in film photography The company is headquartered in Rochester New York and is incorporated in New Jersey 2 It is best known for photographic film products which it brought to a mass market for the first time 3 Eastman Kodak CompanyHeadquarters in Rochester New YorkCompany typePublicTraded asNYSE KODKRussell 2000 componentIndustryElectronicsGraphic artsImagingPredecessorThe Eastman Dry Plate and Film CompanyFoundedMay 23 1892 131 years ago May 23 1892 FoundersGeorge EastmanHenry A StrongHeadquartersKodak TowerRochester New York U S Area servedWorldwideKey peopleJames V Continenza Executive chairman and CEO ProductsDigital imaging photographic materials equipment and services batteriesRevenueUS 1 12 billion 2023 Operating incomeUS 87 million 2023 Net incomeUS 75 million 2023 Total assetsUS 2 36 billion 2023 Total equityUS 931 million 2023 Number of employees4 000 2023 Websitekodak wbr comFootnotes references 1 Kodak 35mm film cartridge alongside Asahi Pentax film camera The shift from film to digital greatly affected Kodak s business Kodacolor II 126 film cartridge expiration year 1980 Kodak began as a partnership between George Eastman and Henry A Strong to develop a film roll camera After the release of the Kodak camera Eastman Kodak was incorporated on May 23 1892 4 Under Eastman s direction the company became one of the world s largest film and camera manufacturers and also developed a model of welfare capitalism and a close relationship with the city of Rochester 5 During most of the 20th century Kodak held a dominant position in photographic film and produced a number of technological innovations through heavy investment in research and development at Kodak Research Laboratories 6 7 Kodak produced some of the most popular camera models of the 20th century including the Brownie and Instamatic 8 9 The company s ubiquity was such that its Kodak moment tagline entered the common lexicon to describe a personal event that deserved to be recorded for posterity 10 Kodak began to struggle financially in the late 1990s as a result of increasing competition from Fujifilm 11 The company also struggled with the transition from film to digital photography although Kodak had developed the first self contained digital camera 12 Attempts to diversify its chemical operations failed and as a turnaround strategy in the 2000s Kodak instead made an aggressive turn to digital photography and digital printing 13 These strategies failed to improve the company s finances and in January 2012 Kodak filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Southern District of New York 14 15 16 In September 2013 the company emerged from bankruptcy having shed its large legacy liabilities restructured and exited several businesses 17 Since emerging from bankruptcy Kodak has continued to provide commercial digital printing products and services 18 motion picture film 19 and still film 20 the last of which is distributed through the spinoff company Kodak Alaris 21 The company has licensed the Kodak brand to several products produced by other companies such as the PIXPRO line of digital cameras manufactured by JK Imaging 22 In response to the COVID 19 pandemic in 2020 Kodak announced in late July that year it would begin production of pharmaceutical materials 23 Contents 1 History 1 1 Name 1 2 Founding 1 3 The Kodak camera 1 4 Expansion 1 5 Labor relations 1 6 Great Depression 1 7 World War II 1 7 1 Manhattan Project 1 8 Post war expansion 1 9 Rivalry with Fujifilm 1 10 Shift to digital 1 11 New strategy 1 12 Bankruptcy 1 13 Post bankruptcy 2 Current products and services 2 1 Advanced Material amp Chemicals 2 1 1 Materials 2 1 2 Chemicals 2 1 3 Industrial Films 2 1 4 Motion Picture 2 1 5 Still Film 2 2 Traditional and digital printing 2 3 Brand 2 3 1 Batteries 2 3 2 Professional Photo Chemistry 3 Former products and services 3 1 Photographic film and paper 3 2 Still film cameras 3 3 Slide projectors 3 4 Instant cameras 3 5 Image sensors 3 6 Floppy disks 3 7 Digital cameras 3 8 Digital picture frames 3 9 Kodak Gallery 3 10 Light emitting diodes 3 11 Medical technology 3 12 Document imaging 3 13 Photocopiers and duplicators 3 14 Consumer inkjet printers 3 15 Photo kiosks 3 16 Photography On Demand 3 17 Motion picture and TV production 4 Operations 4 1 Subsidiaries 5 Kodak Teenage Film Awards 6 Notable people 6 1 Leadership 6 1 1 Board of directors 6 2 Scientists 6 3 Photographers 7 Archive donation 8 Controversies and lawsuits 8 1 Early legal issues 8 1 1 Patent infringement 8 1 2 Anti trust lawsuit 8 2 FIGHT 8 3 Polaroid Corporation v Eastman Kodak Company 8 4 Pollution 8 5 Departure from Better Business Bureau 8 6 Pharmaceuticals loan 8 7 Xinjiang social media post 9 See also 10 Notes 11 References 11 1 Bibliography 12 Further reading 13 External linksHistory editName editThe letter k was a favorite of George Eastman s he is quoted as saying it seems a strong incisive sort of letter 24 He and his mother Maria devised the name Kodak using an Anagrams set Eastman said that there were three principal concepts he used in creating the name it should be short easy to pronounce and not resemble any other name or be associated with anything else According to a 1920 ad the name was simply invented made up from letters of the alphabet to meet our trade mark requirements It was short and euphonious and likely to stick in the public mind 25 The Kodak name was trademarked by Eastman in 1888 26 There was also a rumour that the name Kodak came from the sound made by the Kodak camera s shutter citation needed nbsp Kodak camera advertisement from 1888 nbsp The Kodak factory and main office in Rochester c 1910 Founding edit nbsp Eastman entered a partnership with Henry Strong in 1880 and the Eastman Dry Plate Company was founded on January 1 1881 with Strong as president and Eastman as treasurer 27 Initially the company sold dry plates for cameras but Eastman s interest turned to replacing glass plates altogether with a new roll film process On October 1 1884 the company was re incorporated as the Eastman Dry Plate and Film Company 28 In 1885 Eastman patented the first practical film roll holder with William Walker which would allow dry plate cameras to store multiple exposures in a camera simultaneously 29 That same year Eastman patented a form of paper film he called American film 30 Eastman would continue experimenting with cameras and hired chemist Henry Reichenbach to improve the film These experiments would culminate in an 1889 patent for nitrocellulose film 31 As the company continued to grow it was re incorporated several more times In November 1889 it was renamed the Eastman Company and 10 000 shares of stock were issued for 100 32 On May 23 1892 another round of capitalization occurred and it was renamed Eastman Kodak 4 33 An Eastman Kodak of New Jersey was established in 1901 and existed simultaneously with the Eastman Kodak of New York until 1936 when the New York corporation was dissolved and its assets were transferred to the New Jersey corporation 34 Kodak remains incorporated in New Jersey today although its headquarters is in Rochester The Kodak camera edit nbsp An advertisement from The Photographic Herald and Amateur Sportsman November 1889 nbsp An original Kodak camera complete with box camera case felt lens plug manual memorandum and viewfinder cardIn 1888 the Kodak camera was patented by Eastman It was a box camera with a fixed focus lens on the front and no viewfinder two V shape silhouettes at the top aided in aiming in the direction of the subject At the top it had a rotating key to advance the film a pull string to set the shutter and a button on the side to release it exposing the celluloid film Inside it had a rotating bar to operate the shutter When the user pressed the button to take a photograph an inner rope was tightened and the exposure began Once the photograph had been taken the user had to rotate the upper key to change the selected frame within the celluloid tape 35 The 25 camera came pre loaded with a film roll of 100 exposures and could be mailed to Eastman s headquarters in Rochester with 10 for processing The camera would be returned with prints negatives and a new roll of film Additional rolls were also sold for 2 to professional photographers who wished to develop their own photographs 35 By unburdening the photographer from the complicated and expensive process of film development photography became more accessible than ever before The camera was an immediate success with the public and launched a fad of amateur photography 33 Eastman s advertising slogan You Press the Button We Do the Rest soon entered the public lexicon and was referenced by Chauncey Depew in a speech 33 and Gilbert and Sullivan in their opera Utopia Limited 36 Expansion edit nbsp Advertisement for a folding pocket Kodak camera August 1900 In the 1890s and early 1900s Kodak grew rapidly and outmaneuvered competitors through a combination of innovation acquisitions and exclusive contracts Eastman recognized that film would return more profit than the cameras that used them and focused on control of the film market This razor and blades model of sales would change little for several decades 12 37 Larger facilities were soon needed in Rochester and the construction of Kodak Park began in 1890 34 Kodak purchased and opened several shops and factories in Europe particularly in the United Kingdom The British holdings were initially organized under the Eastman Photographic Materials Company Beginning in 1898 they were placed under the holding company Kodak Limited 38 An Australian subsidiary Australia Kodak Limited was established in 1908 39 In 1931 Kodak Pathe was established in France and Kodak AG was formed in Germany following the acquisition of Nagel 40 The Brownie camera marketed to children was first released in 1900 and further expanded the amateur photography market 41 One of the largest markets for film became the emerging motion picture industry When Thomas Edison and other film producers formed the Motion Picture Patents Company in 1908 Eastman negotiated for Kodak to be sole supplier of film to the industry 42 In 1914 Kodak built its current headquarters on State Street 34 By 1922 the company was the second largest purchaser of silver in the United States behind the U S Treasury 34 Beginning on July 18 1930 Kodak was included in the Dow Jones Industrial Average 43 During World War I Kodak established a photographic school in Rochester to train pilots for aerial reconnaissance 44 The war strained supply chains and Eastman sought out new chemical sources the company could have direct control over At the war s end in 1920 Kodak purchased a hardwood distillation plant in Tennessee from the federal government and established Eastman Tennessee which later became the Eastman Chemical Company 34 45 Henry Strong died in 1919 after which Eastman became the company president 34 Eastman began to wind down his involvement in the daily management of the company in the mid 1920s and formally retired in 1925 although he remained on the board of directors William Stuber succeeded him as president and managed the company along with Frank Lovejoy 46 nbsp An original autochrome color photo from 1917 advertising KodakIn 1912 Kodak established the Kodak Research Laboratories at Building 3 in Kodak Park with Kenneth Mees as director 47 Research primarily focused on film emulsions for color photography and radiography In 1915 Kodak began selling Kodachrome a a two color film developed by John Capstaff at the research lab 47 Another two color film duplitized film was marketed for photography of X rays as it had a short exposure time and could reduce the dosage of radiation needed to take a photo 48 Labor relations edit Kodak became closely tied to Rochester where most of its employees resided and was at the vanguard of welfare capitalism during the 1910s and 1920s 5 Eastman implemented a number of worker benefit programs including a welfare fund to provide workmen s compensation in 1910 and a profit sharing program for all employees in 1912 49 50 In 1919 he sold a large portion of his stock to company employees below market value 51 The expansion of benefits continued after Eastman in 1928 the company began offering life insurance disability benefits and retirement annuity plans for employees at the behest of company statistician Marion Folsom 52 Many other employers in the Rochester area took cues from Kodak and increased their own wages and benefits in order to remain competitive in the labor market 53 Eastman believed that offering these benefits served the interests of the company He feared labor unions and believed that offering better compensation than that received by union workers would deter union organizing and avoid the potential costs of a company strike Selling his stock to employees would simultaneously make it more appealing to investors who were wary to purchase shares because of his large stake and lower the price of the stock which would keep anti trust lawyers from investigating the company 51 Because Kodak was a capital intensive industry with a low labor cost ratio employee benefits contributed less to the company s expenses than they would in other industries 51 Employment opportunities were not extended to all Rochesterians The company almost exclusively hired workers of an Anglo Saxon background under Eastman 51 and excluded Catholic immigrants African Americans 54 and Jews 55 Approximately one third of employees were female 51 A system of family hiring where children of employees would be hired to follow their parents reinforced the concept of an industrial community that Eastman sought to create 51 These practices were not seriously challenged until after World War II As a consequence of this shared background and the robust company benefits Kodak employees formed a close community that viewed unions as outsiders and no attempt to organize workers at Kodak succeeded during the 20th century 56 Great Depression edit nbsp Kodak Camera Center Tennessee c 1930 1945Kodak was hard hit by the Great Depression although Rochester was spared from its worst effects as banks were able to remain solvent 57 Seventeen percent of the company s employees were laid off between 1929 and 1933 58 Company founder George Eastman committed suicide at his home on March 14 1932 due to his declining health 59 From 1931 to 1936 Kodak participated in the Rochester Plan a privately funded unemployment insurance program to assist the jobless and boost consumer spending The program was created by Marion Folsom who gained national recognition for his work and would later serve as a company director and cabinet secretary for Dwight D Eisenhower Payments were made between 1933 and 1936 when layoffs ended at Kodak The program led to many statistical improvements at Kodak but overall had an insignificant effect on the Rochester community as few companies were willing to join the program 57 Research projects led to a number of new Kodak products in the 1930s At Kodak Research Laboratories Leopold Godowsky Jr and Leopold Mannes invented a three color film which would be commercially viable In 1935 the product was launched as Kodachrome 60 The company also produced industrial high speed cameras and began to diversify its chemical operations by producing vitamin concentrates and plastics 34 61 In 1934 Kodak entered a partnership with Edwin Land to supply polarized lenses 62 after briefly considering an offer to purchase Land s patents 63 Land would later launch the Polaroid Corporation and invented the first instant camera using emulsions supplied by Kodak 64 Frank Lovejoy succeeded William Stuber as company president in 1934 and Thomas Hargrave became president in 1941 34 World War II edit After the American entry into World War II Kodak ceased its production of amateur film and began supplying the American war effort at the direction of the War Production Board The company produced film cameras microfilm pontoons synthetic fibers RDX variable time fuses and hand grenades for the government 65 Kodak s European subsidiaries continued to operate during the war Kodak AG the German subsidiary was transferred to two trustees in 1941 to allow the company to continue operating in the event of war between Germany and the United States The company produced film fuses triggers detonators and other materiel Slave labor was employed at Kodak AG s Stuttgart and Berlin Kopenick plants 66 During the German occupation of France Kodak Pathe facilities in Severan and Vincennes were also used to support the German war effort 67 Kodak continued to import goods to the United States purchased from Nazi Germany through neutral nations such as Switzerland This practice was criticized by many American diplomats but defended by others as more beneficial to the American war effort than detrimental Kodak received no penalties during or after the war for collaboration 66 Manhattan Project edit After a 1943 meeting between Kenneth Mees and Leslie Groves a team of Kodak scientists joined the Manhattan Project and enriched Uranium 235 at Oak Ridge 65 Kodak s experiments with radiation would continue after the war In 1945 a batch of X ray film that the company processed mysteriously became fogged Julian Webb who had worked at Oak Ridge proposed that the film had been exposed to radiation released by nuclear weapons tests The source of the radiation was eventually traced to strawboard packaging from Vincennes Indiana which had been irradiated by fallout that had traveled thousands of miles northeast from the Trinity test site 68 After this discovery Kodak officials became concerned that fallout would contaminate more of their film and began monitoring atmospheric radiation levels with rainwater collection at Kodak Park 69 In 1951 the United States Atomic Energy Commission AEC began providing Kodak with a schedule of nuclear tests in exchange for its silence after the company threatened to sue the federal government for damage caused to film products 70 Kodak was later contracted to create emulsions for radiation tests of fallout from nuclear tests 69 Post war expansion edit nbsp Kodak Retina Series Cameras were produced between 1949 until 1956 It also had the KodaChrome Technology nbsp The Kodak K logo was introduced in 1971 The version seen here with the Kodak name in a more modern typeface was used from 1987 until the logo s discontinuation in 2006 A revised version was reintroduced in 2016 71 Kodak reached its zenith in the post war era as the usage of film for amateur commercial and government purposes all increased In 1948 Tennessee Eastman created a working acetate film which quickly replaced nitrate film in the movie industry because it was non flammable 72 In 1958 Kodak began marketing a line of super glue Eastman 910 73 Its cameras were used by NASA for crewed and uncrewed space exploration 74 In 1963 the first Instamatic cameras b were sold which were the company s lowest cost cameras to date Annual sales passed 1 billion in 1962 and 2 billion in 1966 34 Albert K Chapman succeeded Thomas Hargrave as president in 1952 and was succeeded by William S Vaughn in 1960 Louis K Eilers would serve as president and CEO between 1969 and 1972 34 In the 1970s Kodak published important research in dye lasers 75 and patented the Bayer Filter method of RGB arrangement on photosensors 76 During the Cold War Kodak participated in a number of clandestine government projects Beginning in 1955 they were contracted by the CIA to design cameras and develop film for the U 2 reconnaissance aircraft under the Bridgehead Program 77 78 Kodak was also contracted by the National Reconnaissance Office to produce cameras for surveillance satellites such as the KH 7 Gambit and KH 9 Hexagon 79 Between 1963 and 1970 Kodak engineers worked on the cancelled Manned Orbiting Laboratory program designing optical sensors for a crewed reconnaissance satellite The company later performed a study for NASA on the astronomical uses of the equipment developed for MOL 80 Kodak doubled its number of employees worldwide between 1936 and 1966 The majority remained employed in Rochester where it was the employer of choice for most The company continued offering higher wages and more benefits than labor market competitors including the annual wage dividend a bonus for all employees which typically amounted to 15 of base salary 81 Employee loyalty was strong and the company experienced a turnover rate of only 13 in the 1950s compared to 50 for American manufacturers as a whole Journalist Curt Gerling noted that Kodak employees behaved like a separate class from other workers in Rochester and From the cradle infants are impressed with the fact that daddy is a Kodak man inferentially this compares with our father is a 33rd degree mason 82 A 1989 New York Times article compared Rochester to a company town 83 Kodak s business model changed little from the 1930s to the 1970s as the company s dominant position made change unnecessary and it made no mergers or acquisitions which might bring new perspectives 84 37 Research and development remained focused on products related to film production and development which caused the company to fall behind rivals Polaroid and Xerox in the development of instant cameras and photocopiers Kodak would begin selling its own versions of each in the mid 1970s but neither became popular Both product lines would be abandoned in the 1990s 6 Rivalry with Fujifilm edit Japanese competitor Fujifilm entered the U S market with lower priced film and supplies in the 1980s 85 Fuji defeated Kodak in a bid to become the official film of the 1984 Los Angeles Olympics which gave it a permanent foothold in the market 11 Fuji opened a film plant in the U S and its aggressive marketing and price cutting began taking market share from Kodak rising from a 10 share in the early 1990s to 17 in 1997 11 Fuji also made headway into the professional market with specialty transparency films such as Velvia and Provia which competed with Kodak s signature professional product Kodachrome Encouraged by shareholders the company began cutting benefits and making large layoffs to save money 86 Despite the competition Kodak s revenues and profits continued to increase during the 1990s due to the strategy changes and an overall expansion of the global market Under CEO George M C Fisher Kodak s annual revenue peaked at 16 billion in 1996 and profits peaked at 2 5 billion in 1999 85 In May 1995 Kodak filed a petition with the US Commerce Department under section 301 of the Commerce Act arguing that its poor performance in the Japanese market was a direct result of unfair practices adopted by Fuji The complaint was lodged by the United States with the World Trade Organization 87 On January 30 1998 the WTO announced a sweeping rejection of Kodak s complaints about the film market in Japan A price war between the two companies began in 1997 eating into Kodak s profits 11 Kodak s financial results for 1997 showed that the company s revenues dropped from 15 97 billion in 1996 to 14 36 billion in 1997 a fall of more than 10 its net earnings went from 1 29 billion to just 5 million for the same period Kodak s market share declined from 80 1 to 74 7 in the United States a one year drop of five percentage points 88 Fuji and Kodak recognized the upcoming threat of digital photography and although both sought to diversify as a mitigation strategy Fuji was more successful at diversification 85 Fuji stopped production of motion picture film in 2013 leaving Kodak as the last major producer 19 Shift to digital edit nbsp Kodak logo from 2006 to 2016 It is still used by Kodak Alaris Kodak employee Steven Sasson developed the first handheld digital camera in 1975 89 90 Larry Matteson another employee wrote a report in 1979 predicting a complete shift to digital photography would occur by 2010 85 However company executives were reluctant to make a strong pivot towards digital technology since it would require heavy investment make the core business of film unprofitable and put the company into direct competition with established firms in the computer hardware industry 91 Under CEOs Colby Chandler and Kay Whitmore Kodak instead attempted to diversify its chemical operations Although these new operations were given large budgets there was little long term planning or assistance from outside experts and most of them resulted in large losses 92 Another effort to diversify failed when Kodak purchased Sterling Drug in 1988 at a cost of 5 1 billion The drug company was overvalued and soon lost money 93 Research and development at Kodak Research Laboratories was directed into digital technology during the 1980s laying the groundwork for a future digital shift 6 In 1993 Whitmore announced the company would restructure and he was succeeded by George M C Fisher a former Motorola CEO later that year 94 Under Fisher the company abandoned diversification in chemicals and focused on an incremental shift to digital technology 85 91 Tennessee Eastman was spun off as Eastman Chemical on January 1 1994 95 and Sterling Drug s remaining operations were sold in August 1994 96 Eastman Chemical later became a Fortune 500 company in its own right 97 A key component of the incremental strategy was Kodak s line of digital self service kiosks installed in retail locations where consumers could upload and edit photos as a replacement for traditional photo developers Kodak also began manufacturing digital cameras such as the Apple QuickTake 91 Film sales continued to rise during the 1990s delaying the digital transition from occurring faster 91 In 2001 film sales began to fall 98 Under Daniel Carp Fisher s successor as CEO Kodak made an aggressive move in the digital camera market with its EasyShare family of digital cameras By 2005 Kodak ranked No 1 in the U S in digital camera sales which surged 40 to 5 7 billion 98 The company also began selling digital medical image systems after acquiring the Israel based companies Algotec Systems and OREX Computed Radiography 99 100 Despite the initial high growth in sales digital cameras had low profit margins due to strong competition 98 101 and the market rapidly matured Its digital cameras soon were undercut by Asian competitors that could produce and sell cheaper products Many digital cameras were sold at a loss as a result 102 The film business where Kodak enjoyed high profit margins also continued to fall The combination of these two factors caused a decline in profits 98 By 2007 Kodak had dropped to No 4 in U S digital camera sales with a 9 6 share and by 2010 had dropped to a 7 share in seventh place behind Canon Sony Nikon and others according to research firm IDC 97 An ever smaller share of digital pictures were being taken on dedicated digital cameras being gradually displaced by cameras on cellphones smartphones and tablets Digital camera sales peaked in 2007 and declined afterwards 103 New strategy edit nbsp Kodak s main headquarters in Rochester New YorkKodak began another strategy shift after Antonio Perez became CEO in 2005 While Kodak had previously done all development and manufacturing in house Perez shut down factories and outsourced or eliminated manufacturing divisions Kodak agreed to divest its digital camera manufacturing operations to Flextronics in August 2006 including assembly production and testing 104 105 The company exited the film camera market altogether and began to end the production of film products 13 106 107 In total 13 film plants and 130 photo finishing facilities were closed and 50 000 employees laid off between 2004 and 2007 108 In 2009 Kodak announced that it would cease selling Kodachrome color film ending 74 years of production after a dramatic decline in sales 109 110 Perez invested heavily in digital technologies and new services that capitalized on its technology innovation to boost profit margins 98 He also spent hundreds of millions of dollars to build up a high margin printer ink business to replace falling film sales a move which was widely criticized due to the amount of competition present in the printer market which would make expansion difficult 111 Kodak s ink strategy rejected the razor and blades business model used by dominant market leader Hewlett Packard by selling expensive printers with cheaper ink cartridges 112 In 2011 these new lines of inkjet printers were said to be on verge of turning a profit although some analysts were skeptical as printouts had been replaced gradually by electronic copies on computers tablets and smartphones 112 Inkjet printers continued to be viewed as one of the company s anchors after it entered bankruptcy proceedings However in September 2012 declining sales forced Kodak to announce an exit from the consumer inkjet market 113 Bankruptcy edit Kodak s finances and stock value continued to decline and in 2009 the company negotiated a 300 million loan from KKR 114 A number of divisions were sold off to repay debts from previous investments most notably the Kodak Health Group one of the company s profitable units 108 115 Kodak used the 2 35 billion from the sale to fully repay its approximately 1 15 billion of secured term debt Around 8 100 employees from the Kodak Health Group transferred to Onex which was renamed Carestream Health In 2010 Kodak was removed from the S amp P 500 116 In the face of growing debts and falling revenues Kodak also turned to patent litigation to generate revenue 13 117 In 2010 it received 838 million from patent licensing that included a settlement with LG 12 Between 2010 and 2012 Kodak and Apple sued each other in multiple patent infringement lawsuits 118 119 120 By 2011 Kodak was rapidly using up its cash reserves stoking fears of bankruptcy it had 957 million in cash in June 2011 down from 1 6 billion in January 2001 121 Later that year Kodak reportedly explored selling off or licensing its vast portfolio of patents to stave off bankruptcy 121 In December 2011 two board members who had been appointed by KKR resigned 114 By January 2012 analysts suggested that the company could enter bankruptcy followed by an auction of its patents as it was reported to be in talks with Citigroup to provide debtor in possession financing 15 122 This was confirmed on January 19 2012 when the company filed for Chapter 11 bankruptcy protection and obtained a 950 million 18 month credit facility from Citigroup to enable it to continue operations 16 14 15 Under the terms of its bankruptcy protection Kodak had a deadline of February 15 2013 to produce a reorganization plan 123 In January 2013 the Court approved financing for Kodak to emerge from bankruptcy by mid 2013 124 125 During bankruptcy proceedings Kodak sold many of its patents for approximately 525 million to a group of companies including Apple Google Facebook Amazon Microsoft Samsung Adobe Systems and HTC under the names Intellectual Ventures and RPX Corporation 126 127 Kodak announced that it would end the production of several products including digital cameras pocket video cameras digital picture frames and inkjet printers 128 113 129 130 131 As part of a settlement with the UK based Kodak Pension Plan Kodak agreed to sell its photographic film commercial scanners and photo kiosk operations which were reorganized as a spinoff company Kodak Alaris 17 18 132 The Image Sensor Solutions ISS division of Kodak was sold to Truesense Imaging Inc 133 On September 3 2013 Kodak announced that it emerged from bankruptcy as a technology company focused on imaging for business 134 Its main business segments would be Digital Printing amp Enterprise and Graphics Entertainment amp Commercial Films 135 Kodak s decline and bankruptcy were damaging to the Rochester area Its jobs were largely replaced with lower paying ones contributing to a high poverty rate in the city 136 Between 2007 and 2018 real GDP losses from Kodak canceled out the growth in all other sectors in Rochester 137 Post bankruptcy edit On March 12 2014 Kodak announced that Jeffrey J Clarke had been named as chief executive officer and a member of its board of directors 138 139 140 At the end of 2016 Kodak reported its first annual profit since bankruptcy 141 In recent years Kodak has licensed its brand to a number of other companies The California based company JK Imaging has manufactured Micro Four Thirds cameras under the Kodak brand since 2013 22 142 The Kodak Ektra a smartphone was designed by the Bullitt Group and launched in 2016 143 Digital tablets were announced with Archos in 2017 144 In 2018 Kodak announced two failed cryptocurrency products the cryptocurrency KodakCoin which was developed by RYDE Holding Inc 145 and the Kodak Kashminer a Bitcoin mining computer which was developed by Spotlite 146 In 2016 the Kodak spinoff company eApeiron was founded with assets acquired from Kodak and an investment by Alibaba The company s mission is to eliminate knock offs and promote authenticity 147 Despite the pivot to digital technology film remains a major component of Kodak s business The company continues to supply film to the motion picture industry after signing new agreements with major studios in 2015 and 2020 19 In 2022 Kodak announced it would hire new film technicians after film photography experienced a revival among hobbyists 20 148 Current products and services editKodak is currently arranged in four business reporting segments Traditional Print Digital Print Advanced Material amp Chemicals including Motion Picture and Brand Brand licensing of consumer products produced by third parties 149 Kodak is the primary provider of film stock to the American motion picture industry 19 and also provides packaging functional printing graphic communications and professional services for international businesses 150 Kodak Alaris UK holds the rights to still photographic films and the Kodak Moments photo kiosk businesses which formed part of the 2012 bankruptcy settlement They also held the rights to the Photo Paper Photochemicals Display and Software businesses PPDS but sold these to Sino Promise China in 2020 151 In 2023 Sino Promise relinquished the photochemical rights which reverted back to Eastman Kodak who re licensed them see brand Advanced Material amp Chemicals edit Materials edit KodaCOLOR Fabric Inks KodaLUX Fabric coating Silver Anti microbial materials and coatingChemicals edit Toll manufacture of specialty chemicalsIndustrial Films edit Kodak Aerocolor IV 125 2460 Color Negative Aerial Film Kodak ACCUMAX plotter films for printed circuit boards Kodak ESTAR polyester filmsMotion Picture edit Many modern cinema and TV productions are still being shot on Kodak film stocks 152 Motion Picture camera films are produced in 8mm 16mm and 35mm In addition to Camera films listed below a number of motion picture technical stocks are also produced e g inter negatives duplication sound and final print films together with the process chemicals 153 Camera Films Black amp White Negative Stock Kodak Double X 5222 7222 Black amp White Reversal Stock Kodak Tri X 7266 Colour Negative Stocks Kodak Vision 3 50D 5203 7203 Kodak Vision 3 250D 5207 7207 Kodak Vision 3 200T 5213 7213 Kodak Vision 3 500T 5219 7219 Colour Reversal Stocks Kodak Ektachrome 100D 7294Still Film edit The manufacture of Kodak branded still films are procured by Kodak Alaris from Eastman Kodak Kodak Alaris hold the rights to the sale marketing and distribution of these products 21 Eastman Kodak also undertake contract coating and or packaging for other still film brands including Cinestill remjet free versions of color movie films Lomography color negative films and Fujifilm who from 2022 procured production of some color negative films from their former business rival Due to shortage of still films 35mm motion picture stock has also been made available to still film consumers by 3rd parties such as Flic Film 154 better source needed Kodak currently produces several photographic film products in 35mm and 120 film formats In response to the growing demand for film by hobbyists Kodak launched a newly formulated version of the discontinued Ektachrome 100 in 35mm film format in September 2018 155 156 The following year the company announced the film stock in 120 and 4x5 film formats 157 B amp W Negative Film Kodak Tri X 320 Kodak Tri X 400 Kodak TMAX 100 Kodak TMAX 400 Kodak TMAX P3200 Color Negative Film Consumer Kodak ColorPlus Kodacolor 200 Kodak ProImage 100 Kodak Gold 200 Kodak Ultramax 400 Kodak Ultramax 800 Single use cameras Color Negative Film Professional Kodak Ektar 100 Kodak Portra 160 Kodak Portra 400 Kodak Portra 800 Color Reversal Film Kodak Ektachrome E100Reversal film or slide film is a type of photographic film that produces a positive image on a transparent base Traditional and digital printing edit Kodak produces commercial inkjet printers electrophotographic printing equipment and related consumables and services 158 At present Kodak sells the Prosper Nexfinity and Uteco lines of commercial printers 159 and the Prosper and Versamark imprinting systems 159 160 161 Kodak designs and manufactures products for flexography printing through its Flexcel brand 162 The company has also sold a line of computer to plate CTP devices since 1995 163 The company currently has partnerships with touch panel producers for functional printing including ones with UniPixel announced on April 16 2013 and Kingsbury Corp launched on June 27 2013 164 165 166 In 1997 Heidelberg Printing Machines AG and Eastman Kodak Co created Nexpress Solutions LLC a joint venture to develop a digital color printing press for the high end market segment Heidelberg acquired Eastman Kodak Co s Office Imaging black and white digital printing activities in 1999 167 In March 2004 Heidelberg transferred its Digital Print division to Kodak under mutual agreement 168 nbsp A Kodak NexPress 2500 digital printing pressBrand edit The Kodak brand is licensed to several consumer products produced by other companies such as the PIXPRO line of digital cameras manufactured by JK Imaging 169 Batteries edit nbsp Kodak 9V batteryKodak licenses its brand on alkaline lithium hearing aid and button cell batteries 170 Professional Photo Chemistry edit The brand rights to Kodak professional photo chemistry passed to Kodak Alaris in 2012 as part of the bankruptcy settlement In 2020 Alaris sold these rights to Sino Promise China a supplier of the color chemistry for minilabs However in early 2023 Sino Promise decided to exit the business This enabled Photo Systems Inc US who had been a manufacturer of some of the products for Kodak Alaris to acquire the brand rights directly from Eastman Kodak in September 2023 with the intent to re introduce the full range of Black amp White C 41 RA 4 and E6 photochemistry 171 Former products and services edit nbsp A Kodak Instamatic 104 nbsp 1900 Kodak adPhotographic film and paper edit Kodak continues to produce specialty films and film for newer and more popular consumer formats but it has discontinued the manufacture of film in most older formats Among its most famous discontinued film brands was Kodachrome 109 110 Kodak was a leading producer of silver halide paper used for printing from film and digital images citation needed In 2005 Kodak announced it would stop producing black and white photo paper 172 All paper manufacturing operations were transferred to Kodak Alaris in 2013 173 Still film cameras edit Kodak sold film cameras from the time of its founding until 2007 beginning with the Kodak no 1 in 1888 35 In the 20th century Kodak s most popular models were the Brownie sold between 1900 and 1986 8 and the Instamatic sold between 1968 and 1988 9 Between 1914 and 1932 an autographic feature on Kodak cameras provided a means for recording data on the margin of the negative at the time of exposure 34 174 In 1982 Kodak launched a newly developed disc film cameras The cameras initially sold well due to their compact size but were unpopular due to their poor image quality and were discontinued in 1988 175 nbsp Kodak Automatic 8 film cameraOn January 13 2004 Kodak announced it would stop marketing traditional still film cameras excluding disposable cameras in the United States Canada and Western Europe but would continue to sell film cameras in India Latin America Eastern Europe and China 13 By the end of 2005 Kodak had ceased manufacturing cameras that used the Advanced Photo System Kodak licensed the manufacture of Kodak branded cameras to Vivitar in 2006 176 Slide projectors edit Kodak purchased a concept for a slide projector from Italian American inventor Louis Misuraca in the early 1960s 177 The Carousel line of slide projectors was launched in 1962 and a patent was granted to Kodak employee David E Hansen in 1965 178 Kodak ended the production of slide projectors in October 2004 179 One early Kodak product bridging digital technology with projection techniques was the Kodak Datashow featuring a translucent liquid crystal display panel that was placed on an overhead projector instead of a conventional transparency with the panel being connected to the display card of a personal computer to accept its video output This arrangement permitted the computer s display to be projected onto a projection screen or wall making it suitable for viewing by audiences of more than a handful of people Limitations included the monochrome nature of the panel along with a lack of resolution and contrast However at just above the psychologically important 1 000 mark the product was competitive when considering the pricing of larger colour monitors appropriate for group viewing 180 Instant cameras edit Kodak was the exclusive supplier of negatives for Polaroid cameras from 1963 until 1969 when Polaroid chose to manufacture its own instant film In 1976 Kodak began selling its own line of EK instant camera models These were followed by the Colorburst in 1979 and the Kodamatic in 1982 After losing a patent battle with Polaroid Corporation Kodak left the instant camera business in 1986 181 Image sensors edit In the early 1970s Kodak began research into CCD sensor image sensors Kodak developed the first megapixel sensor in a 2 3 inch format which was marketed in the Videk Megaplus Camera in 1987 182 In 1991 the KAF 1300 a 1 3 megapixel sensor was used in Kodak s first commercially sold digital camera the DCS 100 183 The company began producing its first CMOS image sensors in 2005 184 The Bayer filter a method of RGB color display for image sensors was patented by Kodak scientist Bryce Bayer in 1976 76 In 2007 a successor to the Bayer filter for digital cameras was created by company scientists John Compton and John Hamilton which added white pixels to the RGB display 185 In 2011 Kodak sold its Image Sensor Solutions business to Platinum Equity which was renamed Truesense shortly after 186 187 Floppy disks edit In 1983 Kodak introduced a non standard 3 3 million byte diskette it was manufactured by an outside company DriveTec 188 Another was announced in 1984 189 Kodak s 1985 purchase of Verbatim 190 a floppy disk manufacturer with over 2 000 employees 191 expanded their presence Part of this acquisition was Verbatim s Data Encore unit which copies software onto floppy disks in a way that makes it difficult for software pirates to re copy the material 192 In 1990 Kodak exited the diskette business and sold Verbatim to Mitsubishi Kasei the forerunner of Mitsubishi Chemical Corporation Kodak held onto Verbatim s optical disk unit 193 Digital cameras edit Main articles Kodak DCS and Kodak EasyShare nbsp A Kodak Easyshare Z1015 IS digital cameraThe Kodak DCS series of digital single lens reflex cameras and digital camera backs were released by Kodak in the 1990s and 2000s and discontinued in 2005 194 They were based on existing 35mm film SLRs from Nikon and Canon 195 In 2003 the Kodak EasyShare series was launched Kodak extensively studied customer behavior finding that women in particular enjoyed taking digital photos but were frustrated by the difficulty in moving them to their computers Kodak attempted to fill this niche with a wide range of products which made it easy to share photos via PCs One of their key innovations was a printer dock which allowed consumers to insert their cameras into a compact device and print photos with the press of a button 98 In April 2006 Kodak introduced the Kodak EasyShare V610 at that time the world s smallest 10 38 380 mm optical zoom camera at less than 2 5 cm an inch thick 196 197 Many of Kodak s early compact digital cameras were designed and built by Chinon Industries a Japanese camera manufacturer In 2004 Kodak Japan acquired Chinon and many of its engineers and designers joined Kodak Japan 198 In July 2006 Kodak announced that Flextronics would manufacture and help design its digital cameras 199 200 Kodak ended the production of its digital cameras in 2012 128 Digital picture frames edit Kodak first entered the digital picture frame market with the Kodak Smart Picture Frame in the fourth quarter of 2000 It was designed by Weave Innovations and licensed to Kodak with an exclusive relationship with Weave s StoryBox online photo network 201 Smart Frame owners connected to the network via an analog telephone connection built into the frame The frame could hold 36 images internally and came with a six month free subscription to the StoryBox network 202 Kodak re entered the digital photo frame market at CES in 2007 with the introduction of four new EasyShare branded models some of which included Wi Fi capability to connect with the Kodak Gallery 203 Kodak ended the production of digital picture frames in 2012 204 Kodak Gallery edit Main article Kodak Gallery In June 2001 Kodak purchased the photo developing website Ofoto later renamed Kodak Gallery The website enabled users to upload their photos into albums publish them into prints and create mousepads calendars and other products On March 1 2012 Kodak announced that it sold Kodak Gallery to Shutterfly for 23 8 million 205 Light emitting diodes edit Kodak research into LED technology produced a number of innovations beginning in the 1980s In 1986 Kodak unveiled the first high volume LED printer 206 Kodak chemists Ching Wan Tang and Steven Van Slyke created the first practical organic light emitting diode OLED in 1987 207 208 In 1999 Kodak entered a partnership with Sanyo to produce OLED displays 209 Kodak sold its OLED business unit to LG Electronics in December 2009 210 Medical technology edit Kodak s first radiographic film was produced in 1896 48 In the 1970s Kodak developed the Ektachem Analyzer a clinical chemistry analyzer The devices were first sold in 1980 after receiving FDA approval 211 In 2007 Kodak agreed to sell Kodak Health Group to Onex Corporation for 2 35 billion in cash and up to 200 million in additional future payments if Onex achieved specified returns on the acquisition 212 The sale was completed May 1 115 Document imaging edit Kodak s involvement in document imaging technology began when George Eastman partnered with banks to image checks in the 1920s Kodak subsidiary Recordak was founded in 1928 to manufacture some of the first microfilm 65 213 Kodak acquired the Bowe Bell amp Howell scanner division in 2009 214 The Document Imaging division was transferred to Kodak Alaris in 2013 17 Photocopiers and duplicators edit Kodak entered the plain paper photocopier market in 1975 with the Kodak Ektaprint 100 Copier Duplicator 215 In 1986 they announced the Ektaprint 235 copier duplicator capable of producing 5 100 copies per hour and the Ektaprint 300 capable of producing 6 000 copies per hour 216 In 1988 IBM exited the Photocopier industry selling its interests to Kodak for an undisclosed sum 217 On Sept 10 1996 Kodak announced it was selling its Copier business to Danka for 684 million in cash 218 Consumer inkjet printers edit Kodak entered into consumer inkjet photo printers in a joint venture with manufacturer Lexmark in 1999 with the Kodak Personal Picture Maker citation needed In February 2007 Kodak re entered the market with a new product line of All in One AiO inkjet printers that employ several technologies marketed as Kodacolor Technology Advertising emphasized low price for ink cartridges rather than for the printers themselves 219 The printers failed to become profitable and were a major contributor to the company s bankruptcy in 2012 111 112 Kodak announced plans to stop selling inkjet printers in 2013 as it focused on commercial printing 220 Photo kiosks edit Kodak s first self service kiosk opened in 1988 The Picture Maker line of kiosks was launched in 1994 for digital prints 91 Kiosks were installed in retail locations to provide a digital equivalent to the company s film processing locations Over time additional features for image editing and products were added such as the ability to remove red eye effect from portraits 221 The PYNK Smart Print System announced in 2010 would allow customers to create collages on demand Over 100 000 kiosks were installed worldwide during the 1990s and 2000s 222 The photo kiosks were transferred to Kodak Alaris as part of the Personalized Imaging division in 2013 17 Photography On Demand edit After two years in development Kodak launched an on demand photography service platform Kodakit in early 2016 The launch was formally announced in January 2017 at CES 223 Kodakit initially targeted consumers for wedding and portrait photography but soon shifted towards businesses seeking high volume photography real estate food photography and head shots The platform was criticized for requiring photographers to relinquish copyright of their works 224 After failing to generate enough traction the Singapore based subsidiary announced that it would cease operations in January 2020 224 Motion picture and TV production edit In addition to the home market oriented 8mm and Super 8 formats developed by Kodak in the 1950s and 1960s which are still sold today 225 Kodak also briefly entered the professional television production video tape market in the mid 1980s under the product portfolio name of Eastman Professional Video Tape Products 226 Kodak previously owned the visual effects film post production facilities Cinesite in Los Angeles and London and LaserPacific in Los Angeles In April 2010 Kodak sold LaserPacific and its subsidiaries Laser Edit Inc and Pacific Video Inc for an undisclosed sum to TeleCorps Holdings Inc 227 In May 2012 Kodak sold Cinesite to Endless LLP an independent British private equity house 228 Kodak also sold Pro Tek Media Preservation Services a film storage company in Burbank California to LAC Group in October 2013 229 Operations editSince 2015 Kodak has had five business divisions Print Systems Enterprise Inkjet Systems Micro 3D Printing and Packaging Software and Solutions and Consumer and Film 230 Kodak s corporate headquarters are located at Kodak Tower in downtown Rochester Its primary manufacturing facility in the United States is Eastman Business Park where film production occurs 231 Subsidiaries edit nbsp Six 20 Brownie Junior camera Kodak Ltd UK 1934 1938 National Museum of Scotland Edinburgh Scotland UKKodak Australasia Pty Ltd 232 Former manufacturing facilities were located in Melbourne 39 Kodak Canada ULC formerly Canadian Kodak Company 232 Former manufacturing facilities were located in Toronto at Kodak Heights 233 Kodak Xiamen Digital Imaging Products Company 232 Former manufacturing facility is located in Xiamen China 234 Kodak Graphic Communications 232 Current manufacturing facility located in Osterode am Harz Germany 235 Kodak Limited UK 232 Former manufacturing facilities were located in Harrow 236 Morley 237 Kirkby 238 and Annesley 239 Kodak Teenage Film Awards editSince 1962 240 Kodak with University Film Association 241 Council on International Nontheatrical Events 242 and University Film Foundation 242 presented the annual Teenage Film Awards 243 244 245 Entrant must be no older than 19 film may be 8mm super 8 or 16mm on any subject 246 247 Eric Goldberg s Super 8 film won 1974 s Grand Prize 248 249 KBYU TV director of broadcast production Jay Sumsion won second place in 1971 250 Charles S Cohen and Carl Weingarten were awarded Honorable Mentions Notable people editLeadership edit nbsp George EastmanName Title TenureHenry A Strong President 1884 July 26 1919George Eastman President 1921 April 7 1925William G Stuber President 1925 1934Frank W Lovejoy President 1934 1941Thomas J Hargrave President 1941 1952Albert K Chapman President 1952 1960William S Vaughn President and CEO 1960 December 31 1968Louis K Eilers President and CEO January 1 1969 May 17 1972Robert Moyer President 1976 1989Gerald B Zornow Chairman 1970 1984Walter A Fallon CEO May 18 1972 1983Colby H Chandler CEO May 1983 June 1990Kay R Whitmore CEO June 1990 October 27 1993George M C Fisher CEO October 28 1993 December 31 1999Daniel A Carp CEO January 1 2000 May 31 2005Antonio M Perez Chairman and CEO June 1 2005 2014Jeff Clarke CEO March 12 2014 February 21 2019Jim Continenza Executive chairman February 21 2019 presentBoard of directors edit As of July 2022 251 James Continenza chairman and CEO of Kodak B Thomas Golisano founder and former president of Paychex Philippe Katz UECC executive Katherine B Lynch former COO of UBS Jason New co CEO of Onex Credit Darren L Richman co founder of KLIM investment group Michael E Selick Jr president of SeaAgri SolutionsScientists edit Bryce Bayer color scientist 1929 2012 Harry Coover polymer chemist 1917 2011 F J Duarte laser physicist and author left in 2006 Marion B Folsom statistician 1893 1976 Loyd A Jones camouflage physicist 1884 1954 Maurice Loyal Huggins polymer scientist 1897 1981 Rudolf Kingslake optical designer 1903 2003 David MacAdam color scientist 1910 1998 Kenneth Mees film scientist and founder of the research laboratories 1882 1960 Perley G Nutting physicist and founder of OSA 1873 1949 Steven Sasson electrical engineer Ludwik Silberstein physicist 1872 1948 Steven Van Slyke OLED scientist left in 2010 Warren J Smith optical engineer 1922 2008 Ching W Tang OLED scientist left in 2006 John Texter physical chemist and materials scientist 1978 1998 Arthur Widmer Special Effects Film Pioneer and receiver of an Academy of Motion Picture Arts and Sciences Award of Commendation 1914 2006 Photographers edit Jeannette Klute research photographer 1918 2009 Archive donation editSee also George Eastman House In 2005 Kodak Canada donated its entire historic company archives to Ryerson University in Toronto Ontario Canada The Ryerson University Library also acquired an extensive collection of materials on the history of photography from the private collection of Nicholas M and Marilyn A Graver of Rochester New York 252 The Kodak Archives begun in 1909 contain the company s Camera Collection historic photos files trade circulars Kodak magazines price lists daily record books equipment and other ephemera It includes the contents of the Kodak Heritage Collection Museum a museum established in 1999 for Kodak Canada s centennial that Kodak closed in 2005 along with the company s entire Kodak Heights manufacturing campus in Mount Dennis Toronto 253 Controversies and lawsuits editEarly legal issues edit Patent infringement edit Kodak encountered a number of challenges from rival patents for film and cameras These began while Eastman was still developing his first camera when he was forced to pay inventor David Houston for a license on his pre existing patents 254 A major lawsuit for patent infringement would come from rival film producer Ansco Inventor Hannibal Goodwin had filed his own patent for nitrocellulose film in 1887 prior to the one owned by Kodak but his was initially denied by the patent office In 1898 Goodwin succeeded in convincing the patent office to change its decision and his patent was granted 255 Ansco purchased the patent in 1900 and sued Kodak for infringement in 1902 The lawsuit spent over a decade in court and was finally settled in 1914 at a cost of 5 Million for Kodak 256 257 Anti trust lawsuit edit In 1911 the federal government began an anti trust investigation into Kodak for exclusive contracts acquisitions of competitors and price fixing Eastman had cautioned the board of directors against eliminating competition but believed that many of the company s other monopolistic actions were in the best interest of consumers by allowing the company to produce high quality products 258 The investigation resulted in a lawsuit against Kodak in 1913 and a consent decree in 1921 ordering Kodak to stop fixing prices and sell many of its interests 259 FIGHT edit Prior to the civil rights movement Kodak hired virtually no African American employees 54 In the 1950s Rochester s African American population grew rapidly rising from 7 845 in 1950 to around 40 000 in 1964 260 Many objected to Kodak s discriminatory hiring practices and organized to end the status quo The civil rights organization F I G H T Freedom Integration God Honor Today was formed in 1965 by Saul Alinsky and led by Minister Franklin Florence The organization protested Kodak and successfully negotiated an agreement with the company to hire 600 African American workers through a job training program in 1967 260 261 Polaroid Corporation v Eastman Kodak Company edit Kodak and Polaroid were partners from the 1930s until the 1960s with Polaroid purchasing large quantities of film from Kodak for its cameras and further research and development Their cooperative partnership came to an end in the late 1960s when Polaroid pursued independent production of its film and Kodak expressed an interest in developing its own instant camera bringing them into direct competition 262 In 1976 Kodak unveiled the EK series of instant cameras 263 Shortly after the announcement Polaroid filed a complaint for patent infringement in the U S District Court District of Massachusetts 264 beginning a lawsuit which would last a decade Polaroid Corporation v Eastman Kodak Company was decided in Polaroid s favor in 1985 265 and after a short period of appeals Kodak was forced to exit the instant camera market immediately in 1986 266 On October 12 1990 Polaroid was awarded 909 million in damages 181 After appeals Kodak agreed to pay Polaroid 925 million in 1991 then the largest settlement for patent infringement in US history 267 Pollution edit In the 1980s contamination from silver and other chemicals was discovered in the land around Kodak Park and the nearby Genesee River In 1989 a pipeline at the edge of the park burst contaminating a nearby school with about 30 000 gallons of methylene chloride Many families living near the factories chose to relocate as a result Kodak pledged 100 million to study and clean up pollution 83 The company received a 2 15 million fine from the state of New York for illegally disposing of silver contaminated soil and failing to disclose chemical spills in 1990 the largest environmental fine ever issued by the state at the time 268 Kodak remained a heavy air and water polluter during the 1990s 269 In the 1990s an elementary school was built on the site of the former Kodak factory at Vincennes in France After three cases of pediatric cancer were reported at the school an INVS investigation was opened into potential carcinogens left behind from the factory The school was closed in 2001 but no link between the cancers and factory pollutants was established by medical experts The school reopened in 2004 270 In a 2014 settlement with the EPA Kodak provided 49 million to clean up pollution it had caused in the Genesee River and at superfund sites in New York and New Jersey 271 Departure from Better Business Bureau edit In 2006 Kodak notified the BBB of Upstate New York that it would no longer accept or respond to consumer complaints submitted by them 272 On March 26 2007 the Council of Better Business Bureaus CBBB announced that Eastman Kodak was resigning its national membership in the wake of expulsion proceedings initiated by the CBBB board of directors 272 Kodak said its customer service and customer privacy teams concluded that 99 of all complaints forwarded by the BBB already were handled directly with the customer and that the BBB had consistently posted inaccurate information about Kodak 273 Pharmaceuticals loan edit On July 28 2020 the Trump administration announced that it planned to give Kodak a 765 million loan for manufacturing ingredients used in pharmaceuticals to rebuild the national stockpile depleted by the COVID 19 pandemic and reduce dependency on foreign factories Kodak had not previously manufactured any such products 23 The funding would come through U S International Development Finance Corporation and was arranged by presidential trade advisor Peter Navarro 274 275 Within two days the company s stock price had gained as much as 2 189 from its price at the close of July 27 on the NYSE 276 The New York Times reported that one day before the White House announced the loan Kodak CEO Jim Continenza was given 1 75 million stock options some of which he was able to execute immediately 277 The funding was put on hold as the U S Securities and Exchange Commission began probing allegations of insider trading by Kodak executives ahead of the deal s announcement 278 and the funding agency s inspector general announced scrutiny into the loan terms 279 In November CEO Jim Continenza stated that Kodak was still committed to pharmaceutical manufacturing without the loan 280 The DFC concluded no wrongdoing on its part in December 281 Continenza and other executives were ordered to testify as part of the SEC investigation in June 2021 282 A class action lawsuit from Kodak investors was dismissed in 2022 283 Xinjiang social media post edit In July 2021 Kodak removed a post on Xinjiang from its Instagram page The photo was taken by the photographer Patrick Wack who describes the region as an Orwellian dystopia in a reference to the persecution of Uyghurs in China In later statements on Instagram and WeChat Kodak declared its Instagram page was not a platform for political commentary and affirmed their close cooperation with various Chinese government departments 284 285 See also editEastman Business Park formerly Kodak Park Kodak Vision AwardNotes edit Not to be confused with the more famous Kodachrome first sold in 1935 Not to be confused with Instant CamerasReferences edit Eastman Kodak Company 2023 Annual Report Form 10 K U S Securities and Exchange Commission March 14 2024 Retrieved March 16 2024 Certificate of amendment to the restated certificate of incorporation of Eastman Kodak company PDF New Jersey division of revenue June 8 2005 Archived PDF from the original on February 1 2017 Retrieved January 7 2008 Peres Michael January 12 2017 Laboratory Imaging amp Photography Best Practices for Photomicrography amp More Taylor amp Francis ISBN 978 1 317 59301 0 Archived from the original on April 25 2023 Retrieved May 18 2022 a b Eastman Kodak Company That s the New Name of the Big Corporation Democrat and Chronicle Rochester New York May 24 1892 p 9 Archived from the original on May 13 2021 Retrieved May 13 2021 a b Jacoby 1997 p 57 a b c Sturchio Jeffrey April 8 2020 Festschrift experimenting with research Kenneth Mees Eastman 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Retrieved January 18 2023 Attorney General James Secures Court Order Forcing Kodak CEO to Publicly Testify on Insider Trading During COVID 19 Pandemic New York Attorney General June 15 2021 Archived from the original on January 18 2023 Retrieved January 18 2023 In re Eastman Kodak Company Securities Litigation September 27 2022 Archived from the original on January 22 2023 Retrieved January 22 2023 Ives Mike July 21 2021 Kodak Deletes Post by Photographer Who Called Xinjiang an Orwellian Dystopia The New York Times Archived from the original on January 12 2023 Retrieved July 21 2021 Kwan Rhoda July 21 2021 Kodak deletes Xinjiang photo from Instagram vows to respect Chinese gov t Hong Kong Free Press Bibliography edit Brayer Elizabeth 1996 George Eastman a biography Baltimore Johns Hopkins University Press ISBN 978 1580464246 Collins Douglas 1990 The Story of Kodak New York Harry N Abrams ISBN 978 0810912229 Fierstein Ronald K 2015 A triumph of genius Edwin Land Polaroid and the Kodak patent war Chicago American Bar Association ISBN 978 1627227698 Grant Robert M 2015 Contemporary Strategy Analysis 9th ed New York Wiley ISBN 978 1119120841 Jacoby Sanford M 1997 Modern manors welfare capitalism since the New Deal Princeton University Press ISBN 978 0691015705 Swasy Alicia 1997 Changing focus Kodak and the battle to save a great American company New York Times Business ISBN 978 0812924633 Further reading editAckerman Carl William George Eastman founder of Kodak and the photography business Beard Books Washington DC 2000 Binant Philippe Au coeur de la projection numerique Actions 29 12 13 Kodak Paris 2007 External links edit nbsp Wikimedia Commons has media related to Kodak Official website Kodak Camera Catalog Info at Historic Camera Archived May 24 2013 at the Wayback Machine Literature published by Kodak at Monroe County Genealogy Cercle des Conservateurs de l Image Latente an archive of Kodak Pathe materials maintained by former employees Business data for Kodak BloombergGoogleReutersSEC filingsYahoo Portals nbsp Companies nbsp New York state Retrieved from https en wikipedia org w index php title Kodak amp oldid 1216812297, wikipedia, wiki, book, books, library,

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