Clic, clac …Thanks Kodak!
This is sad news for brand lovers: Kodak is on the verge of insolvency. Although the brand played a big role in popularizing conventional photography, the Rochester NY-based corporation failed to take digital photography seriously when the technology emerged 10 years ago. However, it has been one of the industry pioneers with a portfolio of patents that topped $3 billion in 2011, 75 times more its current stock exchange valuation! Over the last few years, the brand has survived by capturing the value of its patents through license agreements or royalties. Kodak technology is found in most of digital cameras and smartphones on the market, whether there are grant of patent licenses or circumventions that lead to ongoing disputes: CCD sensors, light emitting diodes...
But to be successful, brands cannot only rely on technology ownership. They have to be creative, engaging, they have to adapt to changing times. We find ourselves dreaming about a visionary Kodak that could have offered an innovative range of products and services based on its identity 20 years ago. We imagine that Kodak could have used its brand values (capturing emotions, the right moment, creating memories) to come up with thin and flexible LCD screens like a film, digital walls as an interior decorating idea...
Could Kodak have been more powerful than Apple? Probably only in our dreams. Is it time to say goodbye to Kodak? Probably, unless a miracle occurs and makes this phoenix, long known for its film products, rise from the ashes such as was the case for Polaroid. 'Legendary' brands are probably immortal...Let's hope that they're not only in our hearts.
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