Sat, Nov 24, 2012 - Page 14 News List

New smartphones crush compact camera demand

BEGINNING OF END?The market for compact cameras is taking a hit from picture-taking smartphones, but some analysts say point-and-shoot cameras are sure to survive


Canon insists the market has not been abandoned to smartphones.

“Demand for quality snapshots is there, like taking pictures of your friends’ weddings, an overseas vacation, or your children,” a Canon spokesman said. “We believe there are many people who need compact cameras.”

Mizuho analyst Kurahashi acknowledged that compact cameras “will not disappear.”

“But we see the current trend continuing as image quality in smartphone cameras steadily improves,” he said. “The compact-camera market is going to keep shrinking and it’s difficult to forecast any immediate comeback, or have any optimism.”

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