It may not be much longer before we’re saying “Apple” instead of “cheese” when we pose for pictures. According to a recent Phys.Org article, the point-and-shoot camera market is suffering from the proliferation of smartphone cameras.
Smartphones offer increasingly high-quality pictures, as well as attractive features for sharing photos, making them a fierce competitor to compact cameras. Phys.Org noted that Japanese camera manufacturers, a group that includes Canon, Olympus, Sony and Nikon, saw global shipments of cameras fall 42 percent this September as compared to the year before. For compact cameras, the drop was even greater, at 48 percent.
“We may be seeing the beginning of the collapse of the compact camera market,” said Nobuo Kurahashi, analyst at Mizuho Investors Securities, told Phys.Org.
A study of British consumers by Mintel found similar trends and discovered that eight percent of U.K. adults would not replace a broken camera, but instead rely on their smartphone, Telegraph reported. Twenty-one percent of camera and camcorder owners said a smartphone was a better long-term investment.
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