Need examples of new technologies that quickly led to a rapid drop in the price of competing products

[jonaona]

I am preparing a work presentation on how new innovative products can quickly lead to radical downward pricing of other products. These other products could be competing products or other products of the same manufacturers or some technologies that have been rendered redundant by the new product. I have the economics worked out, but need some more real world examples where new products caused extreme price and profit disruptions for other products. Do you have any?

Thank you in advance for your help!

Jona

 

[13thmonkey]

walkman-discman-ipod.

 

[ss202sl]

Streaming music caused the CD market to crash.

 

[Alabalcho]

Aviation -> Trans-Atlantic Ships now just for pleasure, passenger traffic non-existant
Cellular Phones -> Pay Phones
IM -> EMail -> Fax machines -> Telex Machines -> Messengers

 

[USAFRet]

Automobile -> horses

 

[jonaona]

These are great. Thanks!

And please keep them coming. All are appreciated.

I am especially interested in cases where the negative market impact on competitors was relatively quick, like within a year. In many of these innovations, it was probably true that there was a gradual movement of the new technology into the market and then eventually a tipping point is reached and a large scale collapse. It is usually not clear at the beginning where a new technology will end up.

Thanks again.