60 Seconds Techno Stuff : Kodak went bankrupt

For many years, Eastman Kodak Company (Kodak) was one of the famous company in the world. Not until recently, the fast pace development of technology gone over it. People starting to use digital cameras instead of films, printing and viewing photos on personal computers. And all this brings great cost to Kodak, with less sales, the business is going down.

Today, 19 January 2012, Kodak officially filed voluntary petitions for Chapter 11 business reorganization in the U.S. Bankruptcy Court for the Southern District of New York. It's for the better management of property and to counter the law suit with Nokia.

The reorganization is estimated to be done next year. Only the business in the U.S. will be affected, oversea business will continue to operate as normal. But does it? 

Kodak is dying, literally, you know?