Kodak was a great company that dominated its industry for more than 80 years, making billions in revenues and employing more than a hundred and fifty thousand employees worldwide. Armed with the perfect business model and a strong vertical integration, Kodak innovated and offered some of the best products and services in the imaging business. But to the surprise of the world, Kodak filled for bankruptcy in January 2012!! This visual case is dedicated to understand why Kodak, despite its potential and strong R&D, failed to compete in the global market. Comments are welcomed.