Kodak once enjoyed the honor of a century-old shop, and even swept two-thirds of the global film market in its heyday. I believe that it is difficult to find a few companies that have made such amazing achievements on a global scale. However, it was this great glory that eventually led to its bankruptcy, and a generation of film emperors withdrew from the rivers and lakes, and a vigorous drama ended in tragedy, which made people sad.
Why did it develop to bankruptcy? The reason is very complicated, and it is definitely not the so-called inability to keep up with the trend that can be explained clearly. Because for all companies and enterprises, their failure is largely due to their failure to catch up with the development trend of the market and being eliminated by the rapidly changing market. However, such a common reason certainly cannot be the most critical reason why Kodak has no choice but to file for bankruptcy.
In fact, its bankruptcy has a lot to do with its status and mentality. Imagine how a company that made a fortune on film, focusing on film, was willing to give up its lucrative business and switch to other fields. It feels that its brand influence cannot be shaken by any company or any advanced technology. Therefore, under such a psychological control, Kodak can't take the initiative to transform and invest in the digital market. The first is risk, and the second is that I feel that my performance will not be covered by other fields.
Moreover, Kodak operated several businesses at that time, each of which required continuous investment and was relatively large. So in that case, it is unlikely to spend extra money on digital cameras. Although the first digital camera came from Kodak, it was not it that finally occupied the world market with digital cameras.