CAUSE
One question. One truth.
“Why did Kodak fail?”
Kodak's strategic error was delaying investment in digital photography after inventing the first digital camera in 1975. This decision, driven by fears of cannibalizing its film business, enabled competitors to seize the digital market and erode Kodak's revenue.
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CURRENT STATE
This misstep caused a rapid decline, leading to its 2012 bankruptcy and 2025 debt challenges, including a 'going concern' warning. Kodak's workforce has been reduced from 140,000 to approximately 3,400 employees.
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