29 Boomer Brands Struggling In The Time Of Millennials

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Kodak

Source: https://prnewswire2-a.akamaihd.net/

A generation ago, “Kodak Moments” were valued and cherished. Today, with smartphones and social media allowing everyone to take and share as many photos as they want at zero cost, the company whose core business was selling cameras and film has been struggling since the late 1990s with its declining sales and its slow transition to digital photography. Even though the former cutting-edge company invented the world’s first handheld digital camera, it had to let go of several businesses, shut down film factories, and lay off tens of thousands of workers in order to emerge from the bankruptcy it filed in 2012. Today, the photo company that had once employed over 145,000 workers has downsized to 5,400 employees doing graphic communications, functional printing, packaging, and professional services for businesses. Kodak has also started dabbling in cryptocurrency, introducing Kodakcoin which is an innovative way for photographers to manage their rights to their images.