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Eastman Kodak Company (NYSE: EK) is a multinational public company producing photographic materials and equipment. Long known for its wide range of photographic film products, Kodak has consistently increased its market share among digital camera manufacturers. According to IDC, Kodak is the largest digital camera manufacturer in the U.S., shipping over 7 million digital cameras in 2005 and surpassing traditional digital camera giants Canon (5 million) and Sony (4.8 million). Digital camera competitors with smaller market shares included HP, Olympus, Fujifilm, Casio and Nikon.
HistoryEastman Kodak's origins rest with Eastman Dry Plate Company, founded by inventor George Eastman and businessman Henry Strong in 1881. The Eastman Dry Plate Company was responsible for the first cameras suitable for nonexpert use, such as the Brownie and Instamatic. The Kodak company attained its name from the first simple roll film cameras produced by Eastman Dry Plate Company, known as the "Kodak" in its product line. The Kodak company remains the largest supplier of films in the world, both for the amateur and professional markets. It has also diversified into various other imaging-related industries (such as medical imaging), and continues to work at gaining a stronger foothold in the fields of digital photography and imagery. Asked about the name “Kodak“, George Eastman replied, "Philologically, the word Kodak is as meaningless as a child's first 'goo'—terse, abrupt to the point of rudeness, literally bitten off by firm and unyielding consonants at both ends, it snaps like a camera shutter in your face. What more would one ask!" The camera proved such an enormous success that the word Kodak was incorporated into the company name. After losing a patent battle with Polaroid, Kodak left the instant camera business on January 9, 1986. On January 13, 2004, Kodak announced it would stop producing traditional film cameras in the United States, Canada and Western Europe. By the end of 2004, Kodak ceased manufacturing cameras that used the Advanced Photo System and 35mm films. Production of film continued. These changes reflect Kodak's new focus on growth in digital markets. In an effort to reduce costs, Kodak accompanied its shift toward digital products with a series of layoffs and facility closures, cutting 12,000-15,000 jobs around the world, a 20-25 percent reduction in its workforce. On January 6, 2006, Kodak introduced a new corporate logo. The company is headquartered in Rochester, New York, USA. See also
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