Japanese camera players Nikon and Panasonic have suspended the development of low-end digital compact cameras and will now focus more on costlier mirrorless cameras proceeding, the media reported on Saturday, as cell phones become more camera-centric.
Nikon has suspended production of new compact models in its Coolpix line, report Nikkei Asia.
Nikon presently offers only two models with powerful lenses, “closely monitoring market trends” to determine production volumes going forward, the report said, quoting an official.
Nikon has already halted creation of SLR cameras to specialise mirrorless single-lense models. As per Nikkei Asia, the organisation will focus in assets on mirrorless cameras, which have become standard on the back of further developed advanced innovations.
Worldwide shipments of compact cameras plunged 97% from 2008 to simply 3.01 million units in 2021, as cell phone cameras become better and more brilliant.
Panasonic Holdings “has not released any new product for the price range below 50,000 yen ($370 at current rates) or so since 2019 and has no plans to develop a low-priced model going forward”.
“We’ve halted developing any new models that can be replaced by a smartphone,” a company spokesperson was quoted as saying.
Proceeding, Panasonic will deliver good quality mirrorless cameras for photography devotees. It intends to launch a mirrorless camera with German company Leica Camera.
Prior, Fujifilm suspended developments of its FinePix compact cameras.
Canon has not delivered any new ‘Ixy’ cameras beginning around 2017.
Sony Group has likewise not offered any new compact models under its Cyber-shot brand beginning around 2019 and Casio Computer stopped creation of Exilim cameras in 2018, said the report.
(inputs from IANS)