Filed under: Products and services, Eastman Kodak (EK), Battle of the Brands
This post is part of our Battle of the Brands feature. Let us know which brand you like, and check out other Battle of the Brands posts.
Rochester, New York-based Eastman Kodak Co. (NYSE: EK) was founded in 1892, and is well known for its wide range of photographic film products; it remains to today the largest supplier of photographic films in the world. The company played a vital role in the invention and development of the motion picture industry, setting the standard of 35 mm film.
But times change. In 1999, Kodak entered into the consumer inkjet photo printers market in a joint venture with manufacturer Lexmark (NYSE: LXK). In 2004, Kodak announced it would stop producing traditional film cameras, beginning a multiyear struggle to refocus on digital photography and printing. Some of the results of that effort include the Kodak Smart Picture Frame, into which digital files are downloadable via a network connection. The Kodak Gallery is a website where users can upload photos into albums, print them out, and create mouse pads, calendars, and the like. And in 2006 Kodak announced that Flextronics (NASDAQ: FLEX) would manufacture and help design its digital cameras. Kodak also has long-term plans to sell ink jet printers and flat-panel displays.
Tokyo-based Canon Inc. (NYSE: CAJ) also has a venerable history, founded in 1937 as a camera maker. These days, the company has a high profile in the consumer market for cameras and personal printers, but most of the company’s revenue comes from the office products division, especially for analog and digital copiers, fax machines, and scanners. Canon has also entered the digital displays market a joint-venture with Toshiba to develop and manufacture flat panel televisions. The original camera business makes digital cameras, camcorders, liquid-crystal display projectors, lenses, and binoculars.
One significant difference between these two imaging giants: while Kodak has been called one of the worst corporate polluters in the United States, Canon once topped a list climate friendly companies.
Another difference is that in surveys by Thomson Financial, analysts recommend buying Canon, but holding Kodak (leaning toward sell). Canon reported $38.2 billion revenue last year and has a market cap of 67 billion. Though the share price as slipped 10.15% in the past year, it has also risen 9.71% year to date. Kodak, on the other hand, reported revenue of $10.3 billion and has a market cap of $5.6 billion. The share price has fallen 17.88% in the past year, 10.97% since the beginning of the year.
But what do consumers like? Well, in a current list of the top ten most popular digital cameras, four of them were Canon PowerShot cameras, but just one was a Kodak EasyShare.
Which do you prefer?
Vote in our poll for Canon or Kodak as your preferred brand, and let us know in the comments why you love it.
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