Kodak was king when it got here to cameras and movie. In 1976, Kodak had a close to monopoly of the U.S. pictures market, accounting for 90% of movie and 85% of digicam gross sales, in line with The Economist.
However the transfer to digital pictures within the early 2000s hit the corporate onerous. Sarcastically, Kodak truly invented the primary digital digicam again in 1975, however on the time, movie was the corporate’s golden egg and executives have been hesitant to alter. In 2012, Kodak filed for chapter 11 chapter.
Kodak emerged from chapter in September 2013 as a a lot leaner firm, principally targeted on high-speed digital printing know-how and versatile packaging for client items. After a brief stint in cellphone and pill enterprise, Kodak raised eyebrows in 2018 after it announced its foray into cryptocurrency.
However none of those ventures appeared to stay. Now, because the coronavirus sweeps internationally, Kodak has one other alternative to revive its enterprise within the type of a $765 million authorities mortgage to supply generic pharmaceutical substances. However the mortgage, which remains to be only a letter of curiosity, has been placed on maintain whereas the SEC investigates the circumstances round Kodak’s disclosures. Watch the video above to be taught extra about why Kodak is pivoting to prescription drugs.
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