It was a pioneer in digital transition but moved too slowly in fear of cannibalizing their film business. Ironically, today it seems printing and their legacy film are their strengths (and the consumer digital camera market is dead, shifted to smartphones) -- which seems to complicate drawing lessons. However, it could easily have invested in e.g. sensor manufacturing if it recognized early the potential of the transition and still be well today[1].
I think a good strategy is to fearlessly cannibalize [1] yourself yes, but don't abandon your strengths and expertise, instead use them to propel your new ventures.
[1]: I think a good definition of self-cannibalization is due. In this case, it refers to abandoning unstable businesses. For example, trying to hold a market by forcing out "better", newer devices (digital vs film) is unstable -- you're betting on blocking the adoption of a better alternative.
iPhones cannibalizing iPods is true in theory but misses it in spirit. It’s not a hard argument to make to sell a product that is more profitable and a larger addressable market.
The Mac just had its best quarter - ever - before the release of the M1 Macs.
https://en.wikipedia.org/wiki/Kodak#Shift_to_digital
It was a pioneer in digital transition but moved too slowly in fear of cannibalizing their film business. Ironically, today it seems printing and their legacy film are their strengths (and the consumer digital camera market is dead, shifted to smartphones) -- which seems to complicate drawing lessons. However, it could easily have invested in e.g. sensor manufacturing if it recognized early the potential of the transition and still be well today[1].
I think a good strategy is to fearlessly cannibalize [1] yourself yes, but don't abandon your strengths and expertise, instead use them to propel your new ventures.
[1]: I think a good definition of self-cannibalization is due. In this case, it refers to abandoning unstable businesses. For example, trying to hold a market by forcing out "better", newer devices (digital vs film) is unstable -- you're betting on blocking the adoption of a better alternative.
[2]: Sony appears to have done well, today the leading camera sensor manufacturer https://www.businesswire.com/news/home/20201007005124/en/Str...