In 1975, you are correct. But the key mistake wasn't in 1975. It was in the 2000s, as the digital market started to pick up. Unfortunately, the attitude of "Ev

In 1975, you are correct. But the key mistake wasn't in 1975. It was in the 2000s, as the digital market started to pick up. Unfortunately, the attitude of "Every digital camera that was sold took away from a film camera and we knew how much money we made on film" is all too common in companies that dominate a given market - people pretending that as long as they don't cannibalize their current products then no one else will either. There's a brilliant 60s article from Harvard Business Review, called "Marketing Myopia" that talked about this effect even back then.