There is a pantheon of American companies who have had a chance to do great things and flubbed big time. Add to Magnavox the name of Kodak which actually did have the FIRST DIGITAL CAMERA to market in cooperation with APPLE! Add XEROX which developed most of the main hardware and software components of modern personal computing (PARC - Palo Alto Research Center) and did not know what to do with them. Steve Jobs toured it - Veni, vidi, vici!
Add to your list Digital Equipment Corporation.