What is the cost of not embracing digital photography? For the 131 year old business named Eastman Kodak, not changing is costing them the business. The Wall Street Journal reported Eastman Kodak is filing Chapter 11 bankruptcy this month. Seems the New American headline “The Free Market is Brutal: Kodak Loses, Consumers Win” is a hard look at reality,
“[The company is] currently seeking to sell off some of its 10,000 patents in order to stave off the inevitable, but the company is burning through its remaining cash reserves and credit lines rapidly. The last time Kodak was profitable was 2007 when its stock traded at $30 a share.”
As the stock fell below one dollar in the last week, the New York Stock Exchange took action to have the company de-listed from the exchange.
There are reports the designer of the first digital camera Steve Sasson commented in 1975 that his “film-less” camera would change the way we take pictures. One wonders what happened between 1975 and today.
What can we learn? Change is inevitable. Art is what we create. For us at Greentech Illumination, art is eco-friendly digital displays of your favorite photos. Rather than letting the market, pension plans and stock prices determine the future of photos, we put the process in your hands. Have fun creating!