A Polaroid Snapshot

1
A Polaroid Snapshot

• (WSJ, 10/15/01)

2
1937

• Edwin Land founds Polaroid and develops products
  including day glasses and a polarizing desk lamp

3
1947

• Polaroid introduces instant imaging
• A year later, the first instant camera is
  introduced retailing for 89.50

4
1963

• Polaroid introduces instant color film

5
1972

• Polaroid introduces first camera that ejects a
  print from the camerafilm develops when exposed
  to light

6
1983

• Polaroid has 13,400 employees, 1000 patents, and
  1.3 billion in sales

7
1991

• Land dies at 81
• Polaroid produces its one billionth pack of
  instant film
• Polaroid is paid 925 million by Eastman-Kodak to
  settle a patent infringement lawsuit

8
1995

• Polaroid lays off 2500 amid concerns for slumping
  sales

9
1997

• Shares trade for 60

10
February, 2001

• Polaroid announces 950 job cuts with plan to sell
  real estate assets and restructure company to
  develop instant imaging business

11
June, 2001

• Polaroid cuts 2000 jobs, 25 of its work force

12
July, 2001

• Company announces that it will miss bond payments

13
October, 2001

• Company files for bankruptcy protection
• Shares trade for 0.28