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Film firms diversify to survive

01-21-2012 08:46 BJT

The photographic film market was once dominated by Japan’s Fujifilm, China Lucky film, and Kodak in the US, but even these industry giants are facing difficulties with the rising popularity of digital photography.

Fujifilm used to take 60% of market share in China in the 1990s, but that figure dropped to 20% in 2001. The company later launched a line of cosmetics, and sought new outlets for its expertise by making optical film for LCD flat-panel screens. Today, their traditional film business only accounts for 1% of its revenue.

Lucky film also chose to shift strategies. Its move in to optical thin film boosted annual revenue by over 80% in 2010, accounting for over 40% of the group’s total revenue. The company merged with China’s Aerospace Science and Technology Corporation last year, as part of a government initiative on industrial restructuring.

Editor:Zhang Jingya |Source: CNTV.CN

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