Armalite created the AR-15, sold the rights to Colt in the fifties, and the design long ago emerged from patent and became widely-copied. The AR-15 itself will no longer be made for consumers by Colt, it says. It says they're just not that popular among consumers and the company needs to focus on institutional sales.
The fact of the matter is that over the last few years, the market for modern sporting rifles has experienced significant excess manufacturing capacity. Given this level of manufacturing capacity, we believe there is adequate supply for modern sporting rifles for the foreseeable future. … At the end of the day, we believe it is good sense to follow consumer demand and to adjust as market dynamics change. Colt has been a stout supporter of the Second Amendment for over 180 years, remains so, and will continue to provide its customers with the finest quality firearms in the world.
Missing in a lot of the coverage is the fact lots of companies make AR-15s. Colt not making AR-15s is like Sony not making laptops.