Rochester, N.Y.-based Kodak was founded in 1880. Kodak introduced the iconic Brownie camera in 1900. Selling for $1 and using film that cost just 15 cents a roll, it made hobby photography affordable for many people. Its Kodachrome film, introduced in 1935, became the first commercially successful amateur color film.
Kodak's workforce peaked in 1988 at nearly 150,000 employees. But the company couldn't keep up with the shift from digital photo technology over the past decade and with competition from Japanese companies such as Canon.
It said earlier this year that it would stop making digital cameras, pocket video cameras and digital picture frames as it tries to reshape its business.
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