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Business trends

Panasonic, Nikon quit developing low-end compact digital cameras

Departures come after smartphones wipe out 97% of market

[https]
Panasonic sells compact digital cameras under its Lumix brand. (Photo
by Kento Hirashima)
KENTO HIRASHIMA, Nikkei staff writerAugust 6, 2022 06:55 JST | Japan
[                    ]CopyCopied
[https][https][https][https][https][https][https]

TOKYO -- Japanese camera manufacturers are bidding farewell to a
once-major component of their operations, with Panasonic Holdings and
Nikon suspending development of entry-level point-and-shoot cameras
under their flagship brands.

The companies will instead focus resources on pricier mirrorless
models going forward, aiming to navigate a market upended by
smartphones.

Read Next

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