It’s no secret that Kodak has been under fire lately for really falling behind the competition. Originally founded in 1889, Kodak went on to become a household name associated with all things photography. Unfortunately, with the emergence of high-end smartphones complete with powerful cameras, the demand for lower end point-and-shoot cameras drastically decreased. This proved itself to be quite a problem for Kodak due to the fact that printers, film and point-and-shoot cameras were three of their main sources of income, two of which have essentially become obsolete. Eventually, things got so bad for the company that they announced their intentions to file for bankruptcy earlier this year.
And it doesn’t seem as if the pain is set to stop anytime soon. Early last month, Shutterfly came forward to announce that they would be purchasing the Kodak Gallery service. This isn’t necessarily bad, seeing as how Kodak is in desperate need of some cash to help in their restructuring efforts. The problem, however, is that this service was one of Kodak’s only modern, relevant and competitive products. If you’re not familiar with the product it allows users to not only share but also order prints of their shots in various forms.
Originally hoping to sell the service for a few hundred million dollars, Shutterfly managed to make away with the Gallery and all of its 75 million users for just $23.8 million. Now, it seems that the effects of the buy-out are finally affecting users as Kodak has announced they will be shutting the service down come July 2nd. Users can opt to have their photos transferred to Shutterfly, but they must request a transfer by May 28th.
All-in-all this isn’t the worst news since users won’t be losing data or anything of that nature. It does, however, serve as reminder of the slump Kodak has found themselves is. If for nothing more than the nostalgic factor, let’s hope Kodak is able to overcome this slump and become relevant once again.