Yogesh Sarkar
Administrator
In a rather candid statement, the Canon CEO, Fujio Mitarai has admitted that digital cameras cannot compete with the mobile phones and the market for digital cameras will shrink even further in the next few years!
Even though the writing has been on the wall for a while now, it seems to me that the camera industry has almost stalled when it comes to innovation, while mobile phone camera manufacturers are improving their technology rapidly!
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Speaking to the Nikkei Fujio Mitarai, warned that the digital camera industry would keep declining. He said that by around 2021, it will have reached its lowest point, having shrunk by almost 50 percent.
"People usually shoot with smartphones. The digital camera market will keep falling for about two years, but professional and [advanced] amateurs use about 5 to 6 million units. Finally [the market] will hit the bottom," he said.
While more traditional camera companies are turning to full-frame mirrorless products, Mitarai says these are simply replacing DSLRs, rather than expanding the industry and attracting new digital camera users.
"In our company cameras have declined at around 10% a year in the past few years. The world market for interchangeable lens cameras is around 10 million. The mirrorless product is growing, but it is a replacement [for] single lens reflex, it is not adding to the market as a whole," he explained.
Even though the writing has been on the wall for a while now, it seems to me that the camera industry has almost stalled when it comes to innovation, while mobile phone camera manufacturers are improving their technology rapidly!
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Speaking to the Nikkei Fujio Mitarai, warned that the digital camera industry would keep declining. He said that by around 2021, it will have reached its lowest point, having shrunk by almost 50 percent.
"People usually shoot with smartphones. The digital camera market will keep falling for about two years, but professional and [advanced] amateurs use about 5 to 6 million units. Finally [the market] will hit the bottom," he said.
While more traditional camera companies are turning to full-frame mirrorless products, Mitarai says these are simply replacing DSLRs, rather than expanding the industry and attracting new digital camera users.
"In our company cameras have declined at around 10% a year in the past few years. The world market for interchangeable lens cameras is around 10 million. The mirrorless product is growing, but it is a replacement [for] single lens reflex, it is not adding to the market as a whole," he explained.