Taking even a quick glance at the current state of the photography industry will give even the least connected observer a clear view of how things have changed. Iconic camera manufacturers have taken a back seat to smartphone manufacturers which would have been unheard of just a few short years ago. Not only that, but more consumers than ever before are using these smartphones (with highly advanced sensors) to capture their memories and share them with the world via online entities such as Facebook, Twitter, Flickr, Instagram.
This may be a great thing for those behind these popular smartphones but camera focused manufacturers have felt the hurt. In fact, it seems that Kodak may be among the first casualties to come from this trend. You may know that Kodak, who have been around since 1892, made an effort to fend off bankruptcy by selling off some of their patents. Unfortunately this, along with releasing a slew of cameras, doesn’t seem to be enough.
The Wall Street Journal has recently come forth to give us their insight into the financial climate of the company. Apparently, should these patent sells fall through or prove to be less valuable than Kodak executives have hoped, we may be seeing the iconic camera manufacturer filing for bankruptcy before the end of the month.
While this will definitely hit home for those who have been utilizing Kodak products for as long as they can remember it does serve a valuable lesson. With the emergence of new technologies and an ever changing state of the market, no company is safe regardless of how much of a household name they’ve become over the years.