Latest news with #digitalcameras
Entrepreneur
5 days ago
- Business
- Entrepreneur
Kodak Warns It Could Shutter, Cuts Retirement Pension Plans
Eastman Kodak started over a century ago and rose to prominence in the mid-20th century with its portable cameras — but digital cameras disrupted its hold on the market. A company once synonymous with photography is now telling investors that it doesn't have enough cash to pay off its debts, raising concerns about its continued presence. In a Monday second-quarter earnings report, 133-year-old company Eastman Kodak warned investors that it lacked the financial means to make $500 million in upcoming debt payments. The company does not have any committed financing or available cash on hand to pay off its debts, raising "substantial doubt" about its "ability to continue." Related: Job Search Pioneers CareerBuilder and Monster File for Bankruptcy Less than a Year After Merger However, the Rochester, New York-based firm has a plan to raise the cash to meet the payments: ending its retirement pension plan for employees. Kodak is terminating the pension plan altogether, selling assets held by the pension plan, and giving the responsibility to an unnamed insurance company to make future payments instead. Kodak intends to gain between $530 million and $585 million after taxes through these actions, enough to cover its debts. Kodak's pension plan covers 35,000 participants, including retirees and about 2,000 current Kodak employees, according to The Wall Street Journal. The camera giant currently has about 4,000 total employees, per WSJ. After terminating the pension plan, Kodak is planning to offer a new retirement plan for current employees. "The termination of our U.S. Kodak Retirement Income Plan and subsequent reversion of excess funds to pay down debt is progressing as planned," Kodak CFO David Bullwinkle said in an earnings press release on Monday. Bullwinkle further stated that by the end of the week, Kodak will better understand how it can fulfill its plan obligations to participants. The company intends to pay down its debt using the retirement funds by December. Kodak's latest financial earnings show that for the second quarter ending June 30, Kodak reported that revenue declined by 1% year-over-year to reach $263 million. Net loss for the quarter was $26 million compared to net income of $26 million at the same time last year. Related: Joann, an 80-Year-Old Crafts and Fabrics Store, Will Soon Close All 800 of Its Locations Kodak's Executive Chairman and CEO Jim Continenza still painted an optimistic picture in the earnings press release, stating that Kodak "continued to make progress" even faced with "an uncertain business environment." Continenza noted that Kodak is "committed to U.S. manufacturing" and makes everything from inkjet inks to pharmaceutical starting ingredients in the U.S. "For the balance of the year, we plan to focus on serving our customers, strengthening our balance sheet, and developing growth businesses for our future," Continenza stated in the report. What Happened to Kodak? Kodak was founded in 1888, when founder George Eastman introduced the $25 Kodak camera, a portable camera that came preloaded with film. Over the next several decades, the company's influence grew. By the 1950s, Kodak had captured close to 70% of the U.S. film market. Related: 23andMe, Once Worth $6 Billion, Files for Bankruptcy Kodak was a camera and film powerhouse until the 1990s, when digital technology gained prominence. Though Kodak was the first to invent the digital camera in the 1970s, the company was slow to adapt to the technology, and by 2006 had lagged behind competitors like Canon, Nikon, and Fujifilm in digital camera sales. In the fourth quarter of 2006, Canon raced ahead of Kodak to become the biggest digital camera provider in the world. Declining revenue and rising competition caused Kodak to file for Chapter 11 bankruptcy in January 2012, with debt of $6.75 billion. In the bankruptcy process, Kodak raised funds by selling patents worth around $525 million to top companies like Apple. Today, Kodak manufactures commercial printing products, film for the movie industry, and advanced chemicals, in addition to other products. It also offers its recognizable yellow-and-black film cameras for sale. Kodak stock was down over 30% in the past month. Join top CEOs, founders and operators at the Level Up conference to unlock strategies for scaling your business, boosting revenue and building sustainable success.
Japan Times
03-08-2025
- Business
- Japan Times
Fujifilm raises camera and lens prices in the U.S. due to tariffs
Fujifilm Holdings raised U.S. prices for the majority of its digital cameras and lenses on Friday, in some cases by hundreds of dollars, as President Donald Trump's tariffs continue to reverberate across the consumer tech industry. Many of the company's camera bodies, which are popular with creators and professionals on account of their film simulations and unique color rendering, are now $200 more expensive than they were on Thursday evening. For instance, Fujifilm's premier consumer camera, the X-T5, sold for $1,699 early last week but now costs $1,899, a 12% bump. The Japanese firm did not respond to an emailed request for comment. Japan is subject to a baseline 15% tariff under a deal that the Trump administration struck with the country last month. Fujifilm subsequently relocated manufacturing for a few camera models from China to Japan; during that time, the prices remained stable. Other consumer hardware makers have also raised prices in recent months, including Kyoto-based Nintendo, which earlier announced a U.S. price increase for the original Switch console, citing "market conditions.' Fujifilm is the fourth-largest camera-maker behind Canon, Sony and Nikon, according to market research firm Techno Systems Research. But the brand's products often stir an outsize buzz on social media among tech enthusiasts. Its X100 series went viral on TikTok during the COVID-19 pandemic and has consistently been on backorder at most retailers since then. The latest model in that lineup, the X100VI, has risen to $1,799 with the latest price changes — up from $1,599. As for the other major camera manufacturers, Canon, Sony and Nikon already raised prices for a number of products earlier this year. Smaller players like Sigma have also given in after months of global tariff anxiety; that brand increased the cost of its lenses by around 10% in June, the photography outlet PetaPixel reported at the time, but the company told retail partners it's not planning another hike despite the new 15% rate levied on Japan. Fujifilm's most recently announced mirrorless camera, the X-E5 unveiled in June, has not undergone any price adjustments. That product is scheduled to ship later in August. The X Half, a compact, lightweight model the company introduced this year to attract more Gen Z customers, has also maintained its $850 price for the time being.
Yahoo
01-08-2025
- Business
- Yahoo
Fujifilm Raises Camera and Lens Prices in the US Amid Tariffs
(Bloomberg) -- Fujifilm Holdings Corp. raised US prices for the majority of its digital cameras and lenses on Friday, in some cases by hundreds of dollars, as President Donald Trump's tariffs continue to reverberate across the consumer tech industry. The World's Data Center Capital Has Residents Surrounded An Abandoned Art-Deco Landmark in Buffalo Awaits Revival We Should All Be Biking Along the Beach Budapest's Most Historic Site Gets a Controversial Rebuild San Francisco in Talks With Vanderbilt for Downtown Campus Many of the company's camera bodies, which are popular with creators and professionals on account of their film simulations and unique color rendering, are now $200 more expensive than they were on Thursday evening. For instance, Fujifilm's premier consumer camera, the X-T5, sold for $1,699 earlier this week but now costs $1,899, a 12% bump. Fujifilm did not respond to an emailed request for comment. The company is headquartered in Japan, which is subject to a baseline 15% tariff under a deal that the Trump administration struck with the country last month. Fujifilm subsequently relocated manufacturing for a few camera models from China to Japan; during that time, the prices remained stable. Other consumer hardware makers have also raised prices in recent months, including Kyoto-based Nintendo Co., which earlier announced a US price increase for the original Switch handheld games console, citing 'market conditions.' Fujifilm is the fourth-largest camera maker behind Canon Inc., Sony Group Corp. and Nikon Corp., according to market research firm Techno Systems Research. But the brand's products often stir an outsized buzz on social media among tech enthusiasts. Its X100 series went viral on TikTok during the Covid pandemic and has consistently been on backorder at most retailers since then. The latest model in that lineup, the X100VI, has risen to $1,799 with the latest price changes — up from $1,599. As for the other major camera manufacturers, Canon, Sony and Nikon already raised prices for a number of products earlier this year. Smaller players like Sigma have also given in after months of global tariff anxiety; that brand increased the cost of its lenses by around 10% in June, the photography outlet PetaPixel reported at the time, but the company told retail partners it's not planning another hike despite the new 15% rate levied on Japan. Fujifilm's most recently announced mirrorless camera, the X-E5 unveiled in June, has not undergone any price adjustments. That product is scheduled to ship later in August. The X Half, a compact, lightweight model the company introduced this year to attract more Gen Z customers, has also maintained its $850 price for the time being. How Podcast-Obsessed Tech Investors Made a New Media Industry Russia Builds a New Web Around Kremlin's Handpicked Super App Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P.
Bloomberg
01-08-2025
- Business
- Bloomberg
Fujifilm Raises Camera and Lens Prices in the US Amid Tariffs
Fujifilm Holdings Corp. raised US prices for the majority of its digital cameras and lenses on Friday, in some cases by hundreds of dollars, as President Donald Trump's tariffs continue to reverberate across the consumer tech industry. Many of the company's camera bodies, which are popular with creators and professionals on account of their film simulations and unique color rendering, are now $200 more expensive than they were on Thursday evening. For instance, Fujifilm's premier consumer camera, the X-T5, sold for $1,699 earlier this week but now costs $1,899, a 12% bump.
Forbes
23-07-2025
- Entertainment
- Forbes
How Gen A To Z Are Empowering A Comeback Of The Digital Camera
Casper Ravn-Sørensen, Chief Growth Officer of GoWish. Sometimes, the clearest signal of change comes not from what's new, but from what's old. At GoWish, we noticed something unusual in our user data from young teenagers: A surge in demand for digital cameras, which prompted a lot of attention from major news outlets like the Danish national broadcaster DR (BBC/NPR equivalent) and a variety of other popular mainstream and social media accounts. The reason we found out is that every spring in Denmark marks the start of confirmation season, a Christian tradition and coming-of-age milestone for many young teenagers, celebrated with big parties and lots of gifts for the young adults. This makes it one of the most interesting times of year to observe shifting trends in youth culture, which is what our "Crystal Ball" survey set out to uncover based on data from thousands of wishlists. The thousands of young teenagers adding digital cameras to their wishlists weren't looking for smartphone accessories or fancy DSLR-style cameras, either. These were digital point-and-shoots, like the ones many thought had vanished alongside MP3 players and flip phones. And we're not the only ones noticing this comeback. We thought that this was a fun trend, and it brought up some nostalgic feelings and conversations in the office. What really piqued our interest was when we realized that this wasn't a one-off blip. Across categories, there is a growing appetite for products that seem to be pulled straight from the late '90s or early 2000s. Polo shirts like Ralph Lauren and other trends are making a strong comeback. Retro, it turns out, is very much in style. If in doubt, notice how the mullet suddenly has reappeared on street level. What was once considered outdated is now being embraced with fresh energy. A Return To Retro I've written before about how younger generations (especially Gen-Z and the emerging Gen-A) don't engage with brands or technology the way previous generations did. This latest shift is yet another sign of just that. While previous digital trends have been about more connectivity, more sharing and more immediacy, what we're seeing now is a partial reversal: a desire for less noise, more focus and a different kind of authenticity. Take the digital camera as a prime example. For a generation raised on smartphones, it offers something surprising: boundaries. You can still document the moment and have fun doing mini photoshoots with your friends, but you're not being bombarded with notifications or pulled into a dozen apps the second you pull out the device. It creates room for presence. And while the photos might still end up on social media, the experience of capturing them becomes more intentional. This return to analog isn't about rejecting technology—it's about reshaping the experience of it. This is something brands should pay close attention to. The new generation of consumers isn't simply looking for the latest gadget or trend. They're looking for tools that support how they want to live, not just what they can do. And sometimes, the most powerful tools are the ones with fewer features. In Denmark, this same trend is apparent. The number one gift couples getting married wish for is fancy old-school classic wedding china from Royal Copenhagen. This traditional wedding gift never seems to go out of style—or if it did, it's now back at the top of the charts. If anything, the retro resurgence is a reminder that progress isn't always linear: Sometimes, moving forward means borrowing from the past. For those of us trying to understand what the next wave of consumers truly values, it pays to pay attention to what they're rediscovering, not just what they're discarding. Three Lessons For Those Building The Future So what can we as tech leaders, marketers and product builders take from this? First, trends don't always emerge from innovation alone. Sometimes, they surface from emotion, nostalgia, curiosity or even fatigue. The young teenagers asking for digital cameras aren't reacting to a new feature—they're responding to a feeling, which is something I believe organizations must learn to work with in the way customers are approached in social media advertising. Second, simplicity can be a feature. In an age of hyper-functionality, products that do less but do it well can stand out. The renewed popularity of digital cameras isn't about specs or megapixels—it's about boundaries. It offers a single-purpose experience in a multitasking world, which is exactly what many young users crave today. Third, these are generations that curate their identity more fluidly than any before it. Retro aesthetics, analog formats and slower digital experiences are part of how Gen-Z and Gen-A express themselves. If we want to design for them, market to them or simply understand them, we need to recognize that cultural context matters as much as technological context. Keep that in mind next time you call something outdated! Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
