We knew from the beginning that film was going away. It is going away faster than we thought,

Kodak did two things: The one that was good was the investment in digital technology. What they didn't do well, is they didn't commercialize it.

Digital imaging is as much about chemistry as it is about semiconductors.

Can any of the classical digital guys compete with Kodak in understanding how to make ink and how to make media? I would question that.

While we achieved our goal of restructuring to improve our cost base and competitiveness, we had to deal with the challenging telecommunications market,

[Because of uncertainty about] the economic environment of the country, ... the prudent thing to do was expect somehow an impact on the disposable income of consumers. ... We don't want to end up with a large inventory of products that, as you know, lose value very quickly.