Smartphones win in the initial price segment.
Japanese edition Nikkei Asian Review reports new losses in the struggle of traditional compact digital cameras with smartphones equipped with increasingly advanced image sensors and optics. If in 2008 110 million compact digital cameras were sold, then last year this number decreased by 97% to 3 million units.
Image Source: Nikkei Asian Review
Since 2019, Panasonic has not released a single new model in the Lumix family of cameras in the price range below $370, and is also not going to develop them in the future. The representatives of the company in this area recognized the victory of smartphones, and therefore the priority will be given to the development and production of expensive mirrorless cameras. Nikon also stopped developing new compact models in the Coolpix family of cameras, now the range has been reduced to just two items.
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Fujifilm stopped developing the FinePix family of cameras, Canon has not released any new cameras in the Ixy family, but at the same time does not refuse the opportunity to release them and offer new models in the future if there is demand. Sony also stopped releasing new compact camera models in 2019, although it leaves the possibility of developing them in the future. Casio stopped developing its family of compact cameras in 2018.