Kodak — Ignoring Digital Photography

Kodak invented the digital camera in 1975 but actively suppressed it to protect its $20 billion film business, making this the costliest pivot-by-inaction in corporate history. When the company finally pivoted to digital printers and services in the 2000s, it had already lost 90% of its market value. By 2012, Kodak filed for bankruptcy with $5.3 billion in liabilities, while competitors like Canon and Sony captured the digital photography market it created. This abandonment of innovation was worse than BlackBerry's keyboard obsession because Kodak had a seven-year head start and squandered it completely. In contrast, BlackBerry at least retained a loyal enterprise base for a few years. Kodak's failure to pivot left it 30 years behind the average tech company in adapting to digital disruption.