Japanese camera players Nikon and Panasonic have suspended production of low-end compact digital cameras and will now focus on expensive mirrorless cameras moving forward, media reported on Saturday, as smartphones become more camera-focused.
Nikon has suspended development of new compact models in its Coolpix line, report Nikkei Asia.
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The report quoted an official as saying that Nikon now offers just two models with higher-powered lenses, but it is “closely monitoring market trends” to determine production volumes.
Nikon has already ceased production of SLR cameras to specialize in upmarket mirrorless single-lens models. According to Nikkei Asia, the company will focus resources on mirrorless cameras, which have become mainstream on the back of more advanced digital technologies.
Global shipments of compact digital cameras fell 97 percent from 2008 to just 3.01 million units in 2021, as smartphone cameras got better and smarter.
Panasonic Holdings has “released no new products for a price range of 50,000 yen ($370 at current rates) or less since 2019 and has no plans to develop a lower-priced model going forward”.
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“We have stopped developing any new models that can be replaced with a smartphone,” a company spokesperson was quoted as saying.
Going forward, Panasonic will be producing high-end mirrorless cameras for photography enthusiasts. It is planning to launch mirrorless camera with German company Leica Camera.
Prior to this, Fujifilm ceased production of its FinePix compact cameras.
Canon hasn’t released any new ‘Ixy’ cameras since 2017.
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The report states that Sony Group has not introduced any new compact models under its Cyber-shot brand since 2019 and that Casio Computer stopped production of Exilim cameras in 2018.
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