In 1975, Kodak engineers pulled off the biggest feat in photography.
They built the first-ever digital camera.
But what they did next destroyed a $30 BILLION Empire.
Here's how Kodak went from one of the 4 most valuable brands in the world to bankruptcy:
They built the first-ever digital camera.
But what they did next destroyed a $30 BILLION Empire.
Here's how Kodak went from one of the 4 most valuable brands in the world to bankruptcy:
Founded in 1888, Kodak was the Apple of cameras.
It was the pioneer that made photography accessible to the masses.
Their slogan? “You press the button, we do the rest.”
By the 1970s, they controlled 90% of the film market and 85% of camera sales.
Kodak = Photography
It was the pioneer that made photography accessible to the masses.
Their slogan? “You press the button, we do the rest.”
By the 1970s, they controlled 90% of the film market and 85% of camera sales.
Kodak = Photography
Kodak created:
• The first consumer camera (1888)
• Color film (1935)
• The first home video camera (1963)
Their razor-and-blade business model was genius:
• Sell cheap cameras
• Make money on the film and printing
Every photo taken meant more money for Kodak.
• The first consumer camera (1888)
• Color film (1935)
• The first home video camera (1963)
Their razor-and-blade business model was genius:
• Sell cheap cameras
• Make money on the film and printing
Every photo taken meant more money for Kodak.
But in 1975, a Kodak engineer built something revolutionary.
Steve Sasson invented the world’s first digital camera.
It was bulky and low resolution, but the potential was obvious.
It meant a future without film.
Nobody imagined what happened next…
Steve Sasson invented the world’s first digital camera.
It was bulky and low resolution, but the potential was obvious.
It meant a future without film.
Nobody imagined what happened next…
When Sasson showed executives the digital camera, their response?
"That's cute, but don't tell anyone about it."
Kodak made billions from selling film.
If digital cameras took off, their most profitable product would become obsolete.
"That's cute, but don't tell anyone about it."
Kodak made billions from selling film.
If digital cameras took off, their most profitable product would become obsolete.
Kodak executives saw digital as a threat to their film business, not an opportunity.
They had two choices:
• Disrupt themselves and lead the digital revolution
• Protect their film empire and pretend digital wasn’t coming
They chose wrong, and never recovered…
They had two choices:
• Disrupt themselves and lead the digital revolution
• Protect their film empire and pretend digital wasn’t coming
They chose wrong, and never recovered…
When Kodak ignored digital, Sony, Canon, and Nikon caught up.
They invested in digital technology, improving quality and making more affordable cameras.
By the early 2000s, digital photography was everywhere.
But Kodak was still pushing film.
Their empire was crumbling in front of them…
They invested in digital technology, improving quality and making more affordable cameras.
By the early 2000s, digital photography was everywhere.
But Kodak was still pushing film.
Their empire was crumbling in front of them…
In 2001, Kodak finally went all-in on digital cameras.
They briefly became a top-selling digital brand. But now, instead of pioneering the industry, they were trying to keep up.
Meanwhile, more forward thinking companies were charging even further ahead.
Then came the final blow…
They briefly became a top-selling digital brand. But now, instead of pioneering the industry, they were trying to keep up.
Meanwhile, more forward thinking companies were charging even further ahead.
Then came the final blow…
In 2007, the iPhone launched. The rest is history.
Mobile phones — a movement that a more innovative Kodak might have been able to predict and prepare for — started to replace cameras.
Kodak had bet its future on selling cameras and film.
Apple and Samsung made cameras a feature, not even a product.
Kodak never recovered.
Mobile phones — a movement that a more innovative Kodak might have been able to predict and prepare for — started to replace cameras.
Kodak had bet its future on selling cameras and film.
Apple and Samsung made cameras a feature, not even a product.
Kodak never recovered.
In 2012, Kodak filed for bankruptcy.
A company that once was named one of the world’s 4 most valuable brands along with Disney, Coca-Cola, and McDonald's.
They clung to the past instead of leading the future.
They had the technology to win but the mindset to lose.
A company that once was named one of the world’s 4 most valuable brands along with Disney, Coca-Cola, and McDonald's.
They clung to the past instead of leading the future.
They had the technology to win but the mindset to lose.
The lessons from Kodak’s fall:
• Never assume dominance will last.
• Don’t fear disrupting your own business.
• If you don’t adapt, your competitors will.
Kodak wasn’t defeated by a competitor.
They were defeated by their fear of change.
• Never assume dominance will last.
• Don’t fear disrupting your own business.
• If you don’t adapt, your competitors will.
Kodak wasn’t defeated by a competitor.
They were defeated by their fear of change.
Kodak’s story is a warning for every business.
Every industry faces disruption and must embrace constant innovation.
Are you willing to kill your own cash cow to survive?
Kodak had the lead. They INVENTED the technology.
They just lacked the courage and vision to use it.
Every industry faces disruption and must embrace constant innovation.
Are you willing to kill your own cash cow to survive?
Kodak had the lead. They INVENTED the technology.
They just lacked the courage and vision to use it.
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