Eastman Kodak Company commonly known as Kodak, is an American multinational imaging and photographic equipment, materials and services company headquartered in Rochester, New York, United States and incorporated in New Jersey.It was founded by George Eastman in 1889.Kodak is best known for photographic film products. During most of the 20th century Kodak held a dominant position in photographic film, and in 1976 had a 90% market share of photographic film sales in the United States. The company's ubiquity was such that its tagline "Kodak moment" entered common lexicon as a personal event that demanded to be recorded for posterity.Kodak began to struggle financially in the late-1990s as a result of the decline in sales of photographic film and its slowness in transitioning to digital photography, despite having invented the core technology used in current digital cameras in 1975. 2007 was the most recent year in which the company made a profit. As part of a turnaround strategy, Kodak focused on digital photography and digital printing and attempted to generate revenues through aggressive patent litigation.In January 2012, Kodak filed for Chapter 11 bankruptcy protection and obtained a $950 million, 18-month credit facility to enable it to continue trading.In February 2012, Kodak announced that it would cease making digital cameras, pocket video cameras and digital picture frames and focus on the corporate digital imaging market.From the company's founding by George Eastman in 1889, Kodak followed the razor and blades strategy of selling inexpensive cameras and making large margins from consumables — film, chemicals and paper. As late as 1976, Kodak commanded 90% of film sales and 85% of camera sales in the U.S., according to a 2005 case study for Harvard Business School. This seemingly unassailable competitive position would foster an unimaginative and complacent corporate culture.
Net income $ 764 million (2011)
Total assets $ 4.67 billion (2011)