00:00Luckily for Kodak, they had a secret weapon, the digital camera.
00:03Kodak had been working on digital cameras for years, and they knew that they had a good product.
00:07But they also knew that it would cannibalize their film business.
00:10If people started buying digital cameras, they wouldn't need to buy film anymore.
00:14So Kodak decided to hold off on releasing the digital camera.
00:17It was a tough decision, but it was the best one for the company.
00:20By holding off on the digital camera, Kodak was able to extend the life of their film business.
00:25They were able to continue selling film and making money.
00:27For a few more years, however, it wasn't all good news.
00:31While Kodak was able to stay afloat, their profits were nowhere near what they had been before.
00:35The digital camera was a threat that Kodak couldn't afford to ignore.
00:39If they didn't do something, they would eventually be replaced by the digital camera.
00:42So in the early 1990s, Kodak began investing heavily in research and development.
00:47They knew that if they were going to stay competitive,
00:49they needed to come up with a new product that was even better than the digital camera.
00:53What they came up with was a camera that could do everything a digital camera could do,
00:57but it also allowed users to print their pictures at home.
01:00It was called the Kodak Picture Maker, and it was a hit with consumers.
01:03The Picture Maker extended the life of Kodak's film business once again.
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