Kodak introduced the Photo CD in the early 1990s which has the capability to store photographs. In 1997, Kodak launched several digital cameras to the public. Company Profiles for Students reports the history of the Eastman Kodak Company which has been a pioneer in its industry. .
Eastman Kodak faces fierce competition from a variety of film companies. Motley Fool states that Eastman Kodak is the world leader in film sales and that there are 150 million cameras in the US alone that use Kodak film. Eastman Kodak's primary competitor is Fuji Photo Film Co., Ltd. As reported by Reuters, Fuji Photo has waged price wars with Eastman Kodak. These price wars have damaged Eastman Kodak's profits. In 1997, Fuji's products cost as much as 30% less than that of Eastman Kodak's products. CBS Market Watch reports that Kodak currently commands 66% of the shares in the U.S. market. This source also states that in underdeveloped countries such as India and China, traditional photography continues to grow at a steady rate thus broadening Kodak's market. Moreover, Company Profiles for Students states that Kodak is under pressure to produce digital imaging technology and products and asserts that the future of the company will be digital. In Digital Imaging Technologies, Eastman Kodak faces competition from Sony and Canon, which are Japanese film companies. As currently reported by CBS Market Watch, Sony will become a growing competitor of Kodak as Kodak's business shifts to digital cameras. Motley Fool reports that half of Eastman Kodak's sales are from markets outside the U.S. Eastman Kodak has worldwide markets throughout the world in such countries was Brazil, Mexico, Australia, France, and Germany. .
Eastman Kodak Company has experienced some difficulties as well as successes over the past five years. The price wars Eastman Kodak was engaged in with Fuji Photo Film Co., Ltd. in the late 1990s significantly affected its sales.
