Smartphones crushing point-and-shoot camera market
Published on Nov 21, 2012 5:26 PM
TOKYO (AFP) - The soaring popularity of smartphones is crushing demand for point-and-shoot cameras, threatening the once-vibrant sector as firms scramble to hit back with Web-friendly features and boost quality, analysts say.
A sharp drop in sales of digital compact cameras marks them as the latest casualty of smartphones, as videogame consoles and portable music players also struggle against the all-in-one features offered by the likes of Apple's iPhone and the Samsung Galaxy.
Just as digital cameras all but destroyed the market for photographic film, the rapid shift to picture-taking smartphones has torn into a camera sector dominated by Japanese firms like Canon, Olympus, Sony and Nikon.
"We may be seeing the beginning of the collapse of the compact camera market," said Mizuho Investors Securities analyst Nobuo Kurahashi.
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