The move to digital photography in the early 2000s struck the business hard. Ironically, Kodak actually invented the very first digital electronic camera back in 1975, however at the time, film was the companys golden egg and executives were hesitant to alter. In 2012, Kodak submitted for chapter 11 bankruptcy..
Kodak utilized to be king when it pertained to electronic cameras and movie. In 1976, Kodak had a near monopoly of the U.S. photography market, representing 90% of film and 85% of video camera sales, according to The Economic expert.
Kodak emerged from personal bankruptcy in September 2013 as a much leaner company, mainly concentrated on high-speed digital printing technology and flexible product packaging for customer goods. After a brief stint in phone and tablet organization, Kodak raised eyebrows in 2018 after it revealed its venture into cryptocurrency..
None of these ventures seemed to stick. Now, as the coronavirus sweeps across the world, Kodak has another opportunity to restore its business in the kind of a $ 765 million federal government loan to produce generic pharmaceutical active ingredients. But the loan, which is still just a letter of interest, has been postponed while the SEC examines the circumstances around Kodaks disclosures. View the video above to get more information about why Kodak is pivoting to pharmaceuticals..
