India, Aug. 29 -- Nostalgia works in strange ways. Actually, no one knows what it is or how it works. Consider this: In June 2024, Ricoh announced the Pentax 17. This was the first new film camera from a major manufacturer in nearly two decades. The Japanese launch was planned for late that month. Within two days, pre-orders exceeded the company's expectations such that it suspended new orders entirely.

Meanwhile, Kodak and Fujifilm had spent twenty years dismantling their silver-halide supply chains. They are now at work to rebuild it. Why? Because interest in traditional 35 mm films has more than tripled since 2020, estimate industry experts. A technology declared dead now faces a supply-chain crisis because there are not enough people...