A cartridge maker should have disappeared when CDs arrived. Instead, Audio-Technica treated the format shift as an engineering prompt - and built a durable business around the overlooked hardware between a sound and the person hearing it.
Sigma makes every lens it sells in one snowy Japanese town, sells them for a fraction of the big brands, and just carved a camera out of a solid block of aluminum. Here is how the underdog of optics built a loyal following from a warehouse on Long Island.