I believe it’s a paradigmatic example of how the dominant player in a huge industry can go from cash cow to flat broke over time, all due to slow but certain disruption.
From analog to digital
The origin of the digital camera is pretty amazing. It was developed by American Steven Sasson in 1975. It weighed 8 pounds (3.6 kg) and had only 0.01 megapixels.
It first took only 10 pictures and it cost $25,000. All the big players dismissed it as a gimmick and something which would never replace traditional, chemical high-res photography.