Cannibalize (verb)

1. To take parts or resources from one product or service to use in another product or service.
2. To use existing resources, parts, or assets of an existing product, service, or organization to develop new products, services, or projects.

Origin:

The word "cannibalize" is derived from the word "cannibal" which means person who eats the flesh of one"s own species and the suffix -ize which means to turn into, or to make something into. .

Examples:

1. The company decided to cannibalize their older model to make a new one.
2. The company cannibalized parts of the old machine to build a new one.
3. The company cannibalized its older products by using the same parts for a new product.
4. The company's new product cannibalized sales from its older products.
5. The company's new product cannibalized the sales of its own older product, resulting in lower sales for the older product.