NEW YORK (TheStreet) -- Kodachrome (1935-2010) has officially met its end. Dwayne's Photo in Parsons, Kansas -- the last laboratory with the capability to develop the storied color-reversal film -- will develop its final roll on Thursday.

Released by Eastman Kodak ( EK) in 1935, Kodachrome was a popular color slide film with a storied history. Known for its archival characteristics, early Kodachrome slides from the 1930s provide a rare, colorful glimpse into America's Great Depression.

For several decades, Kodachrome films dominated the consumer and professional photography market, compelling singer Paul Simon to immortalize the product with his 1973 hit song, Kodachrome.

By 1990, Kodachrome embarked upon a two-decade demise, spurred by the release of Fujichrome Velvia. Fuji's rival offering, a reversal film rated at ISO 50, offered photographers a slide as sharp as Kodachrome 25 that was twice as sensitive to light. Fujifilm also utilized a common development process known as E-6, which could be performed less expensively than Kodak's proprietary K-14 development process, necessary to develop Kodachrome films.

In the early 2000s, digital cameras manufactured by Nikon and Canon ( CAJ - Get Report) placed further pressure on the film products industry, forcing Kodak to discontinue the no-longer-profitable Kodachrome 25 in 2002. Devotees of the film scrambled to buy inventory, storing it in their freezers for years to come and creating a secondary market for the film on auction web sites such as eBay ( EBAY - Get Report) .

In June of 2009, Kodak discontinued Kodachrome 64, the last remaining Kodachrome film.

For many photographers, December 30, 2010, will be a funeral for a friend. Thousands of amateur and professional photographers have taken to the web to remember their "first" film -- and why it meant so much to them.

As photographer Dan Bayer writes on his Kodachrome tribute website, "While I do shoot lots of digital, I have more than a warm place in my heart for Kodachrome as I started using the film some 29 years ago at age 13.... For what it is worth, I am very impressed that Kodak has made the film this long. It truly is a statement in product commitment and longevity so I have to really thank them for that."

-- Written by John DeFeo in New York City

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