Polaroid Corporation it had asked for. In 1977, Land introduced the Polaroid Instant Home Movie camera named Polavision, based on the Dufaycolor process. However, the product arrived on the market when videotape-based systems were rapidly gaining popularity. Thus it failed to sell well in retail stores and has been described as the swan song for Polaroid. After four decades as chairman, Edwin Land was coerced into resigning and leaving the corporation he had founded. He died in 1991. The "Polavision" debacle eventually caused the company to write off $89 million, including most of the manufactured products. The underlying technology of Polavision was
Polaroid Corporation several former Polaroid employees to their staff. The company expects the agreement to yield $1.3 billion in retail sales over an unspecified period beginning in 2009. On January 5, 2010, Polaroid appointed Lady Gaga as "Creative Director" for the company. A press release stated that she would be the "new face" of Polaroid. In 2017, the holding corporation for Polaroid, PLR IP Holdings, LLC, was acquired by Polish investor Oskar Smołokowski. The last factory producing Polaroid instant picture film cartridges in Enschede, Netherlands, under the trademark "Impossible", which had already been led by Smołokowski as CEO, was rebranded to "Polaroid