What’s In a Name? Polaroid Defies the Odds in its Rebirth…Again
By Richard M. Sherwin
It seems that Polaroid, once it was closed down and sold for a few cans of film and an old tri-pod, is one of the brands that will never die. The latest incarnation and maybe the best one in 75 years, may have finally solved the future is now but the future needs watching that the old company did not.
About ten years ago when the venerable instant camera company lost its way by not getting ready for the digital camera age, it was sold to a huckster named Tom Petters, who then proceeded to do a Minnesota version of Madoff, which then led to Polaroid’s second chapter 11 in 5 years….and Petters 50 year trip to the slammer.
Despite the turmoil and second bankruptcy, the company never stopped selling product… Albeit, the first products from the Petters group was not the best in class but the cheapest in class. However some of the top technology and marketing people were in place when another company Hilco-Jordan Brothers purchased the name and immediately set out to reestablish Polaroid as a leading digital camera and consumer electronics company. Recently the company returned to such firm footing that Lady Gaga was a featured performer at its booth at the consumer electronics show and the newly fabled singer lent her tech savvy to a new Polaroid product.
Polaroid was one of the most famous American technology and marketing accomplishments. Inventor Dr. Edwin Land conceived the instant process for developing and printing photos.
By the mid 1950s, Land was akin to the present Steve Jobs, in not only his invention, but his marketing skills, too. Mr. Land also created patents in light polarization, which became part and parcel of everything from sun glasses to film and lighting products.
Per an interview in the New York Daily News, in 1986, the company always was a strong and litigious defender of its brand and patents. The company was successful in a famous lawsuit against Kodak in 1985. That victory and effectively put Kodak out of the instant photography business, and also thwarted other knockoffs that were starting-up. From police and law enforcement to medical and creative designers, Polaroid’s monopoly on instant cameras lasted for decades until the company went belly up.
In recent years, the Polaroid brand has expanded into flat panel televisions, portable DVD players, digital photo frames, digital HD camcorders, waterproof digital cameras and more. “In 2009 we made a conscious effort to go back to the future where we still thought people wanted instant gratification like where our heritage comes from,” said Jon Pollock, CTO of the 73 year old company. “We also recognized that this new generation uses social media in conjunction with its cameras and mobile phones, added Pollock, a former Dell executive.
“Our Model 300 camera and handheld printers are an example of this instant gratification meets our social media strategy.” The Polaroid PoGo™ Instant Mobile Printer offers the capability to print and share 2”x3” borderless, color images from a camera cell phone or digital camera in under a minute. In 2009, Polaroid unveiled a digital camera with the same printing capabilities, the palm-sized PoGo Instant Digital Camera.
Industry watchers are saying that while the Polaroid brand has successfully come back at mass market retailers like its Minnesota neighbor Target with budget priced TVs and cameras, it could once again occupy elite status if it follows the present business model. “It’s OK to have cash flow from affordable and budget priced items in your comeback years, but for Polaroid to really keep its original brand in the elite status it once occupied, it must go forward with unique and useful products like its original founder did.” Said Len Wanger, senior analysts at Williams Harris @Co.
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Preetvi
Oh gosh! Your giveaways are good.Is that your secret to getting so many followers? hehe :)To be honest, I think your blog is lovely, I’ve been reading it almost from day one and I’ve never, ever missed a post.My mother won’t let me buy a polaroid camera of my own but she didn’t say anything about receiving polaroids in the mail 🙂
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