Video: Business

video transcript

PLEASE NOTE: THIS EDIT CONTAINS CONVERTED 4:3 MATERIAL Duggal Visual Solutions CEO Mike Duggal is taking the news of Eastman Kodak's bankruptcy in stride. His company is one of the largest professional users of Kodak's products- but he is confident he can still count on Kodak. SOUNDBITE: MIKE DUGGAL, CEO, DUGGAL VISUAL SOLUTIONS (ENGLISH) SAYING: "We don't feel that our relationship with Kodak is going to be affected. We have spoken with them as soon as like the news became larger and we talked about potential inventory issues and they assured us that there will be none." The bankruptcy filing was not a surprise- Kodak hasn't made a yearly profit since 2007 and has been shedding workers. STAND-UP: BOBBI REBELL, REPORTER (ENGLISH) SAYING: "Ironically it was Kodak that invented the digital camera- but the company's failure to fully capitalize on the new technologies is often blamed for its downfall." SOUNDBITE: MIKE DUGGAL, CEO, DUGGAL VISUAL SOLUTIONS (ENGLISH) SAYING: "They were making so much money and being so successful with the film and all the analog photography that perhaps they could have more aggressively went into digital, being they invented it." Instead Kodak put digital innovation on the back burner- allowing rivals to take market share. Now, the company is looking to sell over a thousand digital patents as part of the bankruptcy. It is a true reversal of fortune for a company founded back in 1880. Brian Wallis is the chief curator at the International Center of Photography: SOUNDBITE: BRIAN WALLIS, CHIEF CURATOR, INTERNATIONAL CENTER OF PHOTOGRAPHY (ENGLISH) SAYING: "It really signals the end of analog photography in a pretty definitive way. The end has been kind of slow in coming but certainly since about 2000, digital photography has really taken precedence." Kodak has financing to keep it operating during the bankruptcy process, which it expects to complete in 2013. Bobbi Rebell, Reuters.