Polaroid founder Edwin Land announced the SX-70 at a company annual meeting in April 1972. On stage, he took out a folded SX-70 from his suit coat pocket and in ten seconds took five pictures, both actions impossible with previous Land Cameras. The company first sold the SX-70 in Miami, Florida in late 1972, and began selling it nationally in fall 1973. Although the high cost of $180 for the camera and $6.90 for each film pack of ten pictures limited demand, Polaroid sold 700,000 by mid-1974.

There were a variety of models beginning in 1972 with the original SX-70, though all shared the same basic design. The first model had a plain focusing screen (the user was expected to be able to see the difference between in- and out-of focus) because Dr. Land wanted to encourage photographers to think they were looking at the subject, rather than through a viewfinder. When many users complained that focusing was difficult, especially in dim light, a split-image rangefinder prism was added. This feature is standard on all later manual focus models.

Full working condition, no case.