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Was it a failure of imagination? Was it entrenched convictions and provincial thinking? Was it one restructuring too far?
For Kodak—perhaps the iconic American brand of the 20th century—it was all those things.
In an age when global competition has radically altered business overnight, when companies have had to be fleet of foot, Eastman Kodak was the unblinking deer in the headlights. Wednesday, the extent of the roadkill became fully apparent, with the news that Kodak is readying its papers for Chapter 11.
This company failed long ago. Kodak, based in Rochester, N.Y., claims to have invented digital photography but ceded that market to competitors such as Nikon, Sony and Canon. It hung onto its identity, film, and watched it fade before its eyes.
Kodak's Long, Slow Slide - Yahoo! Finance