Photography pioneer Kodak filed for bankruptcy
On Jan. 18, 2012, Eastman Kodak Co, the photography icon that invented the hand-held camera, announced that it had filed for bankruptcy protection and planned to shrink significantly, capping a prolonged plunge for one of America’s best-known companies.
The Chapter 11 filing made Kodak one of the biggest corporate casualties of the digital age, after it failed to embrace more modern technologies such as the digital camera – ironically, a product it invented.
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Source: Reuters
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