If you’re over 30 years old, then you may still recall having used roll film with your analog, chemically-based camera. If you did then it’s likely you would have used a product, such as Kodachrome, manufactured by Eastman Kodak. The company was founded by George Eastman in 1892. Eastman invented roll film and helped make photography a mainstream pursuit.

Kodak had been synonymous with photography for around a 100 years. However, in recent years it failed to change gears during the shift to digital media. Indeed it finally ceased production and processing of Kodachrome in 2009. While other companies, such as Nikon and Canon, managed the transition to a digital world, Kodak failed to anticipate and capitalize. Now, the company is struggling for survival.

[div class=attrib]From Wired:[end-div]

Eastman Kodak Co. is hemorrhaging money, the latest Polaroid to be wounded by the sweeping collapse of the market for analog film.

In a statement to the Securities and Exchange Commission, Kodak reported that it needs to make more money out of its patent portfolio or to raise money by selling debt.

Kodak has tried to recalibrate operations around printing, as the sale of film and cameras steadily decline, but it appears as though its efforts have been fruitless: in Q3 of last year, Kodak reported it had $1.4 billion in cash, ending the same quarter this year with just $862 million — 10 percent less than the quarter before.

Recently, the patent suits have been a crutch for the crumbling company, adding a reliable revenue to the shrinking pot. But this year the proceeds from this sadly demeaning revenue stream just didn’t pan out. With sales down 17 percent, this money is critical, given the amount of cash being spent on restructuring lawyers and continued production.

Though the company has no plans to seek bankruptcy, one thing is clear: Kodak’s future depends on its ability to make its Intellectual Property into a profit, no matter the method.

[div class=attrib]Read the entire article here.[end-div]

[div class=attrib]Image courtesy of Wired.[end-div]