Eastman Kodak Company and Fujifilm are competing corporations in the photography supply and equipment industry. When the industry changed both companies were impacted, but due to very unique management styles and ability to adapt to change one Fujifilm excelled while Kodak faltered and eventually declared Chapter 11 Bankruptcy in 2012.
History of Kodak
George Eastman founded Kodak, in 1888. The company’s early success was based on the new technology for cameras. The camera simplified the photo taking process (Williams, C. 2013) Kodak’s main focus was photography and imaging. They had an array of products that ranged from photography equipment, film, paper and color chemicals. In the1980’s, Kodak’s market share reached 90%.
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Eventually, they began selling globally. Fujifilm made bold moves in American market. They used aggressive marketing and lower prices for their product. The 1984 Los Angeles Olympics marked the turning point of the Fujifilm’s success in this venture, when they became the official film of the event. This placed Fujifilm on the market permanently. The company began taking over Kodak’s market share by offering equal quality products for a lower price (Tsurumi, Y 1999). As Fujifilm prepared for the fast changing needs in the market, it widened its business scope to digital cameras, printers, photocopiers, and optical devices. It also tapped into the health sector, producing medical equipment that includes X-ray imaging and chemicals. In January 1934(Tsurumi, Y 1999). In February 1934 the Ashigara Factory began operation producing photographic film, print paper, dry plates and other photosensitive materials (Tsurumi, Y 1999). With reported revenue of 917.4 billion Yen ($9.8 billion,) today Fujifilm is the world’s largest photographic and imaging company. Manufacturing Digital cameras, 3D Image products, binoculars, supplies and a multitude of products and services to various businesses Fujifilm has established itself in several markets within the U.S. and other countries (Tsurumi, Y 1999).
Compare and Contrast Kodak and Fuji Film
Kodak’s failure to embrace innovation in a timely fashion could be blamed on its