Using "Film" and "Profitable" in the same sentence sure makes Kodak stock owners feel comfy:
"In 2010, Kodak's marketing manager for professional film at Kodak, argued that there was a real resurgence for film across the world. But,
argues BJP's technical writer Jonathan Eastland, Kodak is not doing enough to sustain the business. "Kodak needs to look at what is its core business. What make them think that digital printing will push their share price up? For Kodak to make digital printers their core business is laughable."
Instead, says Eastland, Kodak should truly embrace its historical status as a master of film photography. "Each time Kodak has discontinued a film, they used the excuse that it represented less than a certain percentage of their turnover, but it's still a percentage of a very large niche market. There are still millions of photographers around the world that are using film, and not hundreds as Kodak seems to suggest [see Jonckheer's statement above]."
Eastland adds: "Kodak's got to go back and crunch their numbers about the film market. All people want are these little yellow boxes of film, and that should be their core business, even it means reducing the company's size further. Kodak needs to hire people that actually know about film photography. It needs to market it properly and set up some great labs in strategic places with great customer service."
Silverprint, a UK distributor and retailer of film equipment, agrees, stating that "over the last 12 months our sales figures of traditional film and paper have risen." It adds, on its Facebook page: "Silverprint has never been more determined in our commitment to supplying all our analog users worldwide, with everything they require to enjoy and develop both their careers or simply their love of analog photography. We feel that the press has currently converted the KODAK Story from "133 Year Old Company...Dead!"...to "Film...DEAD!". This is simply not the case, both in terms of sales figures and the current online buzz surrounding analog imagery and techniques. Variety is the spice of life and surely we are all commited to that idea!"
This is what our marketing-speak to plain english translator says. Quote from Kodak's press-release:
" These actions, which the company has already begun, include more tightly focusing its portfolio of investments, intensifying its emphasis on generating cash, and further streamlining its cost structure. Additionally, today the company announced that where permissible by law its executives would not receive a salary increase in 2009 and that it would temporarily suspend for 2009 the company’s U.S. 401(k) match. Based upon the current outlook, company management also does not expect a payout
"Kodak has succumbed to its financial pressures and filed for Chapter 11 business reorganization in New York. The iconic photography company isn't dead yet, however, just very broke."
Is Kodak aware that people are writing eulogies left and right? Is the company even aware of its death? No, not really, according to them they are 'restructuring' and 'focusing on core strategies' and 'enforcing the transformation to an all digital company' and stuff like that. Kodak, welcome to the purgatory, Agfa and Polaroid will be your guides.