Apparently 3M was a serious player back in the day on magnetic tapes and floppy diskettes. But today they are not present in a similar market (digital storage) at all.
I wonder what was it like to go through that timeframe, as the management and the employees, where the floppy disks were becoming obsolete. Did they purposefully took the decision to not pursue CD, flash memory market? Or was it just a shortsightedness of the management where they fell behind and eventually had to exit that market?
Of course 3M still managed to be successful and today it is one of the big market cap companies...