Word: kodaks
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...Kodak zooms in on the home-video market...
...Eastman Kodak, 1983 was the year the company's glossy image lost much of its luster. Profits of the world's leading maker of photographic equipment (1982 sales: $10.8 billion) plunged nearly 50% in the first nine months of 1983 as key products faltered both at home and abroad. The company, which prides itself on the warmth of its employee relations, had to make a series of painful layoffs. Kodak stock, meanwhile, sank 12.5% during the year despite the bull market, making it the worst performer among the 30 blue-chip issues in the Dow Jones industrial average...
...Rochester, N.Y.-based giant has hardly been content to relax and let its dominance fade. Kodak spent much of the year preparing to invade the booming $9 billion market for home-video equipment. This week the company will launch its first attack, introducing a self-contained camera-videotape recorder that runs on narrow, 8-mm tape. The device will be smaller, lighter and easier to carry than most items now on the market, which use wider tape. Says Eugene Glazer, a leading photo-industry analyst for Dean Witter: "The new products are going to be very, very important. Small color...
Some experts are already predicting that Kodak, which accounts for about 60% of worldwide film sales, will quickly become a leader of the video field as well. But that eminence could be hard to achieve. Not only is the field already packed with formidable rivals like Sony, but new developments are occurring rapidly. In an apparent effort to upstage Kodak, RCA this week will unveil a palm-size video camera that comes with a separate recorder...
Part of Sculley's task has been a realignment of Apple's top management. Since he took over, three vice presidents have been asked to leave and one has been replaced by a senior marketing man from Eastman Kodak. Earlier this month, Sculley requested the resignations of 30 staffers. Says one Apple programmer: "They've been telling people they have two choices. They've got five days to resign, or they're going to be put in a job for which they're unqualified, unsuited and ill-equipped-and then fired...