There have been many companies who went to the top places in their fields and stay there but along with them there are some who went to the top but couldn’t handle the competition and fell down like a feather out of the sky.
There are many causes for these type of failures. Some people blame the incompetence of the head and along with that there are many un-planned decisions that lead the company straight to the dirt.
Today we are going to list the Top 5 Tech companies who went to the top sooner or later fell down.
This company started off its journey in February 1999 and was the first online retail store. The basic idea of this company was to sell goods below cost online. The company sold their products at subsidised rates to make a good clientele, but they made this offer available for a pretty long time which increased the costs but returned vey less profits. Another reason for non-selling of products was the pathetic range that it was offering. The company fell down within almost a year in November 2000 for obvious reasons. Their mascot the ‘sock-puppet dog’, however, survived and now adorns BarNone loaning site with its grace.
Prodigy became the 4th largest online service(with 3.1 million subscribers) in 2000 only behind MSN, AOL and EarthLink. However, its competitors survived the revolution which brought the free open access web browsers but Prodigy couldn’t and was finally sold to AT&T in 2006.
Pilaroid was a former instant camera and film maker company. The best thing about their cameras was the instant photo that came out the camera itself. However Polaroid cameras became old fashioned and were replaced by the much modern and accurate digital cameras. The name Polaroid cameras was later sold to another company and the journey which started great in 1937 finally came down in October 2001.
4. Commodore Computers
Commodore 64, the popular 8-bit home computer was sold about 22 million units worldwide and was the most successful computer the company ever produced in 1980s. But then, founder Jack Tramiel had an argument with the company’s board of directors which resulted in him leaving the company. Jack Tramiel bought Atari and also took some key people from Commodore with him. The company did not only loose a dynamic leadership but also the minds who created the most popular and advanced devices. Hence, the it could not keep up with its competitors such as IBM and Apple and finally lost itself in April 1994.
RCA which started its operations in 1916 became the world’s largest radio, television and video recording business. They basically invented many gadgets themselves and then sold their products out for record profits. They introduced a new disc to replace the records as well as the VCR called Capacitance Electronic Disc (CED). The new technology was considered as a bad replacement due to its non-perennial nature and failed, so did the company. RCA which was once bigger than today’s Apple came to a fall and the company died in 1986.