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Kodak bankruptcy: Reaction in China

0 Comment(s)Print E-mail CNTV, January 21, 2012
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Kodak, the company which invented the hand-held camera, has filed for bankruptcy protection in US on Thursday. But in China, Kodak film stores are running business as normal.

A customer checks Kodak film at a Shanghai store on Thursday. 

The brand has been synonymous with the art of taking pictures for more than a century. The once-iconic photography company failed to adapt to the digital market, which overtook its traditional, film-based business, and filed for chapter 11 protection. But in China, it is all business as usual.

A Kodak Film store staff in Beijing said, "The bankruptcy news has no effect on us. Because film-based business takes up only a fraction of our operation. Besides, bankruptcy is in the US, there is no impact whatsoever in China."

For Chinese people, Kodak has been a household name for decades.

A Beijing resident said, "I've grown up with Kodak pictures. It's a great pity."

Another Beijing resident said, "I think it is a world of survival of the fittest. If they can't keep up with the trend, they will be crowded out of the market."

Kodak China says the bankruptcy only affects Kodak in US. Business is doing well in the Asia Pacific region, which last year saw a double-digit growth in sales volume year on year. Kodak China will continue to pay wages to its Chinese employees, and its three facilities in China are running at full capacity to ensure supply.

 

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