Tokyo, August 6 (SocialNews.XYZ) Japanese camera makers Nikon and Panasonic have suspended production of low-end compact digital cameras and will now focus on more expensive mirrorless cameras, media reported on Saturday, as smartphones become increasingly more camera-centric.
Nikon has suspended development of new compact models in its Coolpix lineup, reports Nikkei Asia.
Nikon now only offers two models with high-powered lenses, but it is “closely monitoring market trends” to determine production volumes going forward, according to the report, citing an official.
Nikon has already stopped the production of reflex cameras to specialize in high-end hybrid single-lenses. According to Nikkei Asia, the company will focus its resources on mirrorless cameras, which have become mainstream thanks to more advanced digital technologies.
Global compact digital camera shipments have fallen 97% from 2008 to just 3.01 million units in 2021, as smartphone cameras get better and smarter.
Panasonic Holdings “has not released any new product for the sub-50,000 yen ($370 at current rates) price range since around 2019 and has no plans to develop a lower-priced model in the future” .
“We have stopped developing any new models that can be replaced by a smartphone,” a company spokesperson said.
In the future, Panasonic will produce high-end mirrorless cameras for photography enthusiasts. He plans to launch a mirrorless camera with German company Leica Camera.
Previously, Fujifilm had discontinued production of its FinePix compact cameras.
Canon hasn’t released new “Ixy” cameras since 2017.
Sony Group has also not offered new compact models under its Cyber-shot brand since 2019 and Casio Computer stopped production of Exilim cameras in 2018, according to the report.