Total 640 words used.
Kodak, the iconic imaging company, recently pivoted its mainstay commercial print business to focus on high-quality/high-speed inkjet presses. This bold, strategic move, driven by market insights, technology breakthroughs, and pandemic challenges, has positioned Kodak to capitalize on future print industry growth.
Kodak has learned from its experience with the impact of digital technology on photography and embraced digital print technology. In fact, until 2022, Kodak had two lines of digital print products: electrophotographic (or toner-based) and inkjet.
In late 2022, Kodak discontinued manufacturing its line of electrophotographic printing presses. The hard decision stemmed from financial projections and spiraling manufacturing costs, exacerbated by supply chain challenges.
Kodak then doubled down on its other digital print technology: inkjet. Not to be confused with home printers, these multimillion-dollar Kodak presses offer high-quality output comparable to offset with fast production speeds. In time, they could replace offset presses in the growing general commercial segment.
I.T. Strategies forecasts pages printed on inkjet presses will grow 43% by 2028. In the roll-fed inkjet press category, general commercial printing, which requires higher quality and glossy papers, will see the most significant growth percentage at 23% CAGR through 2028. Kodak, with its century of printing experience and industry-leading inkjet technology, is now ready to capitalize on these trends.
Kodak recently introduced two new roll-fed inkjet presses powered by proprietary technology, which delivers the highest image quality at the highest speed of any manufacturer: the KODAK PROSPER Ultra 520 Press powered by KODAK ULTRASTREAM technology and the KODAK 7000 Turbo Press, the world’s fastest inkjet press. They join the already successful PROSPER 6000 Press in Kodak’s growing portfolio.
In 2023, Kodak launched environmentally friendly water-based inks and primers to complement the new presses and reflect the company’s sustainability-first mindset in product development. KODACHROME and EKTACHROME inks are formulated using nanoparticulate technology for brighter, punchier prints at speeds faster than any commercial inkjet system. The OPTIMAX Primer eliminates use of expensive treated papers by improving ink receptivity, adhesion, rub resistance, and image quality on virtually any substrate. All are formulated and manufactured by Kodak, leveraging the company’s color management and material science expertise.
The groundbreaking new continuous inkjet technology has been widely praised:
“It has been a while since an inkjet press manufacturer raised the bar for the print speed of inkjet presses. With the Prosper 7000 Turbo, Kodak introduced a new press that has a third higher print speed than the fastest inkjet models so far,” wrote Ralf Schlozer, Inkjet Insight.
“The Prosper Ultra does not need to lower speeds to achieve high-quality printing, and near-infrared drying offers increased efficiency,” wrote Simon Eccles, Printweek.
Kodak’s controlled introduction ensures that customers have the right applications to benefit from the technology’s strength in handling high-volume and high-ink coverage jobs. Each press represents a $3-4 million USD capital investment per customer, and sales cycles can last a year or more. Such a long period would have deterred many corporations from innovating, but Kodak’s enthusiasm reflects a substantial customer and sector commitment, and ardent belief in its technology and strategy.
Since rolling out the PROSPER Ultra 520 and the 7000 Turbo Press, both have resulted in multi-million-dollar sales. Kodak expects to close more deals at the upcoming drupa trade show in May 2024.
For the past several years, Kodak has been making smart, brave, and ultimately high-return moves to right its businesses, build confidence among customers, attract new investors, and set the course for a brighter future. The work is paying off. Gross profit increased to $50 million in Q3 2023, compared to $43 million in Q3 2022, an increase of 16%. Judging by current sales, a robust pipeline, and marketplace excitement, its latest technology pivot to inkjet is proving to be another win for the venerable company—a new Kodak reestablishing its place in the global and American business communities.
Nomination Title: Kodak Pivots to Groundbreaking Inkjet Print Technology
