Panasonic and Nikon stop developing new budget cameras

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    Japanese camera makers Panasonic Holdings and Nikon have suspended the development of low-cost compact cameras under their flagship brands. Nikkei Asia writes about it.

    In the 1990s, compact digital cameras were in high demand all over the world. According to the Camera and Imaging Products Association (CIPA), global camera shipments reached 110 million units in 2008.

    The market began to collapse rapidly after the appearance of smartphones with built-in digital cameras. In 2021, just over 3 million compact digital cameras were sold worldwide. Thus, from 2008 to 2021, the market volume fell by 97%.

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    Against the backdrop of a falling market, leading Japanese manufacturers have stopped developing new budget digital cameras. Panasonic hasn’t released a new camera for under $370 since 2019. The company said that they do not plan to release new models in this segment in …

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