Backtest · Imaging · 1980–2026

The rate called Kodak's fall, then called the fall of the technology that beat it.

Silver-halide film out-filed every digital technology into the mid-2000s while improving at 23%/yr against digital's 30–90%. And inside digital, the same measurement watched CCD's rate decay while CMOS held, flagging the second disruption years before Sony ended CCD production.

Computed from patents public at each date · no hindsight
01 · The consensus vs the rate

Film won the filing war. Digital won the rate. Then CMOS beat digital's winner.

Silver-halide filmCCD imagersCMOS imagers
The consensus · what the industry filed
New patent families per publication year
The rate · the signal
Estimated improvement rate per year, computed from patents public at each date
GetFocus platform export · 1980–2026 · what the platform would have said at the time, computed from patents public at each date
02 · The timeline · against the rate

Thirty-seven years from invention to bankruptcy, with the number in view the whole way.

Rate readings are platform output computed from patents public in each year. Note the second story inside the first: the technology that beat film was itself being out-improved.

1975

Kodak invents its own disruptor.

Engineer Steven Sasson builds the first digital camera, toaster-sized, 3.6 kg, 0.01 megapixels. Executives shelve it to protect film margins.

THE RATE READ
CCD 89.8% · FILM 17.3% (1980)
1981

Sony's Mavica sets off the alarm.

Sony announces an electronic camera; Kodak commissions a landmark internal assessment. It concludes digital will replace film in roughly a decade. The finding changes nothing.

THE RATE READ
CCD 82.6% · FILM 17.6%
1994

Kodak builds Apple's camera.

The Apple QuickTake 100, one of the first consumer digital cameras, is manufactured by Kodak itself. The capability was in-house; the commitment was not.

THE RATE READ
CMOS 30.9% · CCD 36.5% · FILM 25.8%
1997

Peak Kodak.

Market value tops out near $31 billion in February. Film filings run at 2,611 families that year, more than every digital technology combined. The filing chart says fortress; the rate chart says otherwise.

THE RATE READ
CMOS 31.5% · CCD 33.0% · FILM 24.0%
2000

The quiet crossover nobody could see.

CMOS's improvement rate passes CCD's, years before CMOS is taken seriously on image quality. The first camera phones ship the same year. Round two is already decided.

THE RATE READ
CMOS 32.3% · CCD 30.6% · FILM 23.1%
2005

CMOS out-files CCD.

The filing crossover arrives five years after the rate crossover, the pattern of this entire library, repeating inside the digital camp.

THE RATE READ
CMOS 58.1% · CCD 30.2% · FILM 23.0%
2007

The iPhone ships a CMOS sensor.

Smartphone volume locks in the active-pixel sensor. Film demand is now falling 20–30% per year.

THE RATE READ
CMOS 59.0% · CCD 29.9% · FILM 23.0%
2012

Chapter 11.

On 19 January, Kodak files for bankruptcy protection: 37 years after building the first digital camera. Film filings that year: 56 families.

THE RATE READ
CMOS 54.4% · CCD 29.0% · FILM 22.9%
2015

The second loser exits.

Sony, whose Mavica startled Kodak in 1981, announces the end of CCD sensor production. The disruptor is disrupted, exactly as the rate had been saying since 2000.

THE RATE READ
CMOS 51.8% · CCD 28.9%
03 · The reasonable arguments at the time

Smart people chose the loser for defensible reasons.

Kodak's leadership was not blind. Each of these held at board level, and none of them was the variable that decided the outcome.

“Film quality was simply better.”

True for decades, early digital was a toy next to a good film print. The rate does not measure who is ahead; it measures who is closing.

“Film margins were extraordinary; digital's were thin.”

Rational finance: why trade a razor-blade business for commodity hardware? The rate priced the trend; the P&L priced the present.

“CCD beats CMOS on image quality.”

Also true, into the mid-2000s CCD noise and uniformity were superior, and the CCD camp said so. CMOS was closing at roughly twice the speed, and its rate crossover came in 2000.

“Kodak did respond.”

Kiosks, Photo CD, the Advantix film system, an early digital SLR line. Adjacent bets that protected film's role rather than following the fastest-improving technology.

04 · The bill

What protecting the slower technology cost.

$31B
Peak market value, February 1997
140,000+
Employees at peak
37 yrs
From inventing the digital camera to Chapter 11
$31 billion to zero equity: from the February 1997 peak to the January 2012 Chapter 11 filing.
More than 140,000 jobs at peak: reduced to a small fraction through two decades of restructuring.
The second bill went to the CCD camp: the companies that beat Kodak saw their technology's rate decay from 90%/yr to under 30, and exited a decade later.

“It would have been great if we'd had something like GetFocus to show management how serious the situation was.”

Ronald S. Cok, research fellow, Kodak
05 · Beneath the rate

CCD's decline was mechanical: slower steps, smaller leaps.

We forecast the improvement rate from two citation metrics, cycle time and knowledge flow. Both were visible the whole time.

Cycle time
Years between invention generations, shorter is faster
Knowledge flow
How much later work builds on each invention, higher is bigger leaps

CCD's cycle time stretched from under four years to almost seven, each generation took longer to arrive, while its knowledge flow halved. CMOS held a knowledge flow near 1.1 for two decades: later work kept building on it. Film never moved on either metric. The rate was reading the machinery underneath, not the market above it.

Provenance. Every patent carries a filing date, so the record can be replayed: every improvement rate on this page uses only the patents that were public at the time. No hindsight enters the series. Chart data: GetFocus platform exports, August 2026. The historical facts below come from the public record.

Sources
  1. Forbes: “How Kodak Failed,” January 2012; Knowledge@Wharton: “Kodak’s 30-year slide into bankruptcy,” 2012.
  2. U.S. Bankruptcy Court, S.D.N.Y.: Eastman Kodak Chapter 11 filing, 19 January 2012.
  3. Public accounts of Steven Sasson’s 1975 prototype (0.01 MP, 3.6 kg) and Kodak’s 1981 internal digital assessment.
  4. Apple product history: QuickTake 100, manufactured by Kodak, 1994.
  5. Sony announcement: end of CCD sensor production, 2015.
  6. GetFocus platform exports: silver-halide film, CCD and CMOS imager datasets, 1980–2026.
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