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胶卷之王,没能活成“电子茅台”
3 6 Ke·2025-08-19 23:19

Core Viewpoint - Kodak, once a dominant player in the film industry, is facing potential bankruptcy again after struggling for years post-restructuring in 2013, with a significant debt of $500 million due within 12 months and declining revenues and profits [5][6][8]. Group 1: Financial Situation - Kodak's recent financial report revealed a $500 million debt maturing within a year, leading to a warning about its "going concern" status due to a lack of clear financing channels [5][6]. - Following the financial report, Kodak's stock price dropped over 20%, indicating investor concerns about the company's viability [6]. - Despite Kodak's claims that it can manage the debt and plans to use employee pension funds to cover it, investor confidence remains low [5][6]. Group 2: Business Transformation - After filing for bankruptcy in 2012, Kodak shifted its focus from consumer products to commercial printing and film supply, moving away from the consumer market [9][10]. - Kodak's commercial printing business now accounts for approximately 70% of its revenue, showcasing a significant shift from its original business model [10]. - The company attempted to innovate by entering the blockchain and cryptocurrency space in 2018, but these efforts were met with skepticism and ultimately failed [14][16]. Group 3: Historical Context - Kodak was founded in 1888 and became a household name with the introduction of the Kodak Box camera, revolutionizing photography for the masses [20][22]. - The company played a crucial role in American culture and history, being involved in significant events and providing equipment for Hollywood productions and NASA missions [32][33]. - Kodak's decline is often attributed to its failure to adapt to digital photography, missing opportunities to capitalize on emerging technologies [46][48]. Group 4: Market Position and Competition - Kodak's current annual revenue is around $1 billion, a stark contrast to its peak revenue of over $16 billion, indicating a significant decline in market position [19][20]. - Other companies, such as Fujifilm, have successfully diversified their business models and adapted to market changes, unlike Kodak, which clung to its traditional film business until it was too late [43][46]. - The nostalgia market has seen a resurgence, benefiting companies like Polaroid and Fujifilm, while Kodak struggles to find its place in this new landscape [38][43].