That’s not an accurate summary of the article. The problem was that Kodak stuck to the photography business for too long. As the article states, in the early 2000s they were the number one seller of digital cameras. It just turns out making consumer digital cameras was a “crappy business” as their CEO went on to say. Fujifilm diversified into healthcare, cosmetics, and making LCD display films.

What's crazy is that Fujifilm now, once again, makes more money on photographic film than anything else they do, thanks to how popular the Instax instant cameras are.

That's just how wildly profitable film is.