It was back in January 2012 when Kodak, the iconic company known for its film and cameras, filed for Chapter 11 bankruptcy. Founded by George Eastman in 1880, the company is credited with making photography popular, aiding normal people to find and save their “Kodak Moment” forever. The company has gone through extensive restructuring and has emerged as a technology company that focuses on imaging for business. The film and cameras that made it famous are now gone. Old stock stands cancelled as of today, creditors have been given stock in the new restructured Kodak.
Kodak has shut down its consumer camera business, many of its patents, 13 factories and 130 film processing labs. Its name no longer graces the theater that plays host to the annual Academy Awards . The new Kodak has some 8,500 employees and will now focus on businesses that it deems profitable. These include graphic communications, functional printing and packaging. One of the projects that Kodak is currently working on is a cheaper touchscreen for tablets and smartphones. The company’s technology might allow touchscreens to be foldable and flexible, it hopes to begin production by the end of this year and already has deals with unspecified electronics manufacturers. It remains to be seen just how much of Kodak’s new inventions will end up being profitable.