Tokyo the 6th of August, : Japanese camera players Nikon and Panasonic have halted the production of compact digital cameras with low-end specifications and are now focusing on mirrorless cameras that cost more going forward, according to reports in the media on Saturday as smartphones become more camera-centric.Nikon has stopped the development of innovative compact models in its Coolpix line, according to Nikkei Asia.
Nikon has a limited number of models with high-powered lenses , but it is “closely watching the market’s trends” to determine the production volume in the future according to the report according to an official.
Nikon has already halted production of SLR cameras to focus in high-end mirrorless single-lens models.
According to Nikkei Asia, the company will focus its resources on mirrorless cameras that have become the norm thanks to the development of technological advancements in digital technology.
Global sales of compact digital cameras dropped nearly 97 percent from 2008 to 3.01 million units in 2021 as smartphones cameras get better and more sophisticated.
Panasonic Holdings “has not released any new product in the price below the 50,000 yen mark ($370 in current exchange rates) or more since the year the beginning of 2019 and there is no plan to develop an affordable model in the future”.
“We’ve stopped working on any models with new features that could be replaced by smartphones,” a company spokesperson was quoted as saying.
Moving forward, Panasonic will produce high-end mirrorless cameras aimed at photographers.
Panasonic plans to launch an unibody camera with German company Leica Camera.
In the past, Fujifilm discontinued production of its FinePix compact cameras.
Canon hasn’t released any new cameras ‘Ixy’ since the year 2017.
Sony Group has also not launched any compact cameras under the Cyber-shot brand from 2019 onwards.
Casio Computer halted production of Exilim cameras in 2018 as per the report.
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