3.Eastman Kodak
   Headquarters: United States
   What is it known for: Photographic Film Products
   Current Value: $162 million
   Peak Value: $31 billion (1997)
   Percentage Residue: 0.5 percent
   Reason for downfall: Digital Camera

Eastman Kodak, enjoyed its ‘Kodak moment’ for a time spanning a majority of the 20th century. It enjoyed a 90 percent market share in the photographic film sales in 1976 but started experiencing a decline in its sales during the 1990’s. The major reason contributing to its failure was the rejection of photographic films in the market and its inability to make a smooth transition to digital photography. The irony lies in the fact that Kodak was the inventor of the core technology that is used in the digital cameras.
It took time for Kodak to realize that the photographic films have become out of fashion and that digital photography is attracting more number of people given the clarity, spontaneity and other magnificent features. This slow realization resulted in its huge losses it incurred in the past decade or two.
However it did transited to digital photography but announced recently that it will stop manufacturing digital cameras and pocket video cameras and focus on corporate digital imaging market.