Kodak was an American company dominant in photographic film during the 20th century. As digital photography rose in the 1990s, Kodak's film sales declined. While Kodak invented the first digital camera in 1975, management dismissed its potential and failed to transition to digital, hoping to protect the film business. This strategic failure allowed competitors like Sony and Canon to capture the emerging digital market. Kodak's disregard for digital technology directly caused its decades-long decline and eventual bankruptcy in 2012.