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Unfortunately, as the digital camera and film world took hold, Kodak doubled down on its non-digital formats, while only dabbling in the digital space.
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Kodak, the maker and inventor of the digital camera, has closed its digital camera and pocket video cam business today.
FORBES: Kodak Closes Camera Business
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The digital camera market is competitive and Kodak was struggling to keep up with larger tech manufacturers and the rise of smartphones with comparable megapixels.
FORBES: Kodak Ceases Digital Camera Production
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Steven Sasson invented the digital camera itself, starting at Kodak in the 1970s with an eight-and-a-half-pound box connected to a magnetic tape drive and a TV set, which produced a .01 megapixel image.
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Eastman Kodak today announced that it plans to exit the digital camera, pocket video camera and digital picture frame businesses.
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Believing foolishly that its loyal customer base would never desert its famous products, Kodak ignored competitors Sony, Fuji and other innovative digital camera firms.
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Kodak failed to aggressively convert film camera customers to its own digital cameras, and it filed bankruptcy in 2012.
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As excited customers were celebrating the arrival of fantastic digital images and digital cameras, Kodak management stayed the course with its traditional film and camera lines.
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Kodak noted that the patent at issue involved a method for previewing images on a digital camera-enabled device.
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Chunka uses Kodak as an example of a company that tried to sit on disruption, and then got eaten by digital camera makers.
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Still, Kodak did eventually build a hefty business out of digital cameras but it lasted only a few years before camera phones scuppered it.
ECONOMIST: Technological change