News |Nikkei: Panasonic, Nikon to stop making compact cameras

Nikkei: Panasonic, Nikon to stop making compact cameras

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Nikon and Panasonic will quit making digital compact cameras under their flagship brands, according to a report in Nikkei.

The Japanese financial publication states that instead, Nikon, Panasonic and other unnamed ‘Japanese camera manufacturers’ will focus their resources on premium mirrorless cameras going forward.

Nikkei says the change in direction is down to the impact smartphones have had on the lower end of the camera market. The small form factor and ease of taking and sharing images changed the way people take photos and helped eliminate that segment of the market.

On the other hand, the market for mirrorless cameras is booming. Nikkei says:

Compact digital models accounted for 36% of global digital camera shipments in 2021, according to CIPA. The broader camera market will likely shrink even faster with Japanese companies, many of them big players, scaling back operations in compact digital models.

The bright spot is the mirrorless segment, with global shipments jumping 31% on the year to 324.5 billion yen in 2021. Mirrorless single-lens models offer fat margins, and users replacing lenses and other parts will keep contributing to the manufacturers’ bottom lines.

Retailers are focusing on this segment as well. “These days we recommend mirrorless cameras even to novice photographers,” said a salesperson at electronics and appliance retailer Joshin Denki.

Via 4/3 Rumors

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