A user on social platform X posted a comparison between the bankruptcy of Kodak and Fujifilm's successful transformation in the digital age, drawing the attention and commentary of U.S. tech billionaire Elon Musk.
The post stated: "Kodak filed for bankruptcy in 2012. Its closest competitor, Fujifilm, faced the same challenge: digital cameras ended the era of film. Fujifilm's strategy was to repurpose its chemical technology. The particle science once used to create photosensitive emulsions on film is now applied to produce CMP slurries—polishing agents that can smooth each chip layer to an atomic level of flatness. Nearly half of the world's copper CMP slurries come from Fujifilm. The company invested $700 million to acquire a high-purity process chemicals firm from Entegris and built a new plant in Kumamoto, adjacent to TSMC's first wafer fabrication facility in Japan. Fujifilm aims for $3.3 billion in electronic materials revenue by 2030. While Kodak saw a declining business, Fujifilm recognized the chemical potential behind it."
Musk commented on the post, saying, "They did well."
In 2023, Musk had previously posted that traditional automakers were approaching their "Kodak moment" if they failed to accelerate their transition to electric vehicles. Similar to the former film industry giant Kodak, which became obsolete by failing to keep up with digital trends.
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