Kodak seeks protection from bankruptcy


Today is a sad day, not just for film buffs or photographers, but virtually everyone in the world who has ever taken a photo. Kodak is gearing up to file for protection against bankruptcy.

There’s no doubt that Kodak has served such a strong presence in our lives. In fact, we have even embedded the name into our local slang with “Kodakan na!” to indicate taking a photo. If you take a look at your photo albums, I’m certain that every single person out there has a picture taken with one of Kodak’s films.

But if you’ve been paying attention to the cityscape lately, you’ll no doubt have noticed the gradual disappearance of Kodak shops. It’s ironic how the company wasn’t able to make a smooth transition to the digital era, even though they invented the digital camera (1975) and the first megapixel sensor (1986).

Not all is lost however, and the 131-year old company is not going down without a fight. They are trying to sell their patent portfolio to hopefully rescue them from bankruptcy.


UPDATE 1/19/2011: Kodak has officially filed for bankruptcy. 


Source: Wall Street Journal