I worked for a camera company that made boatloads of cash from point-and-shoot cameras. That entire business was pretty much turned into chum by smartphones. I remember them refusing to even take the iPhone seriously, when it was announced. They took a serious hit, but seem to be recovering.
I have personal experience in the field (27 years), and met and worked with the folks involved, so I know it's good info. I'm not especially interested in hunting around for stuff that basically is a "lite" version of my personal experience.
I don’t really get specific about my employer, and I suspect that the folks at Kodak, wouldn’t be thrilled about me writing about them.
There’s a fair bit of press out there, anyway. Not too hard to find corroborating information.
Witness every company that got disrupted from existence, because the thing they were doing was more profitable.
If you cut r&d that's a saving that a manager is rewarded for. The losses down the line are borne by others.