Canon reported to bow out of budget digital camera market

Yet another camera manufacturer partially calls it quits in face of the onslaught of smartphones. Accoring to the Nikkan Kogyo, Canon has decided to let go of its low-priced digital compact camera business and instead focus its resources on high-end, and more expensive, digital single lens reflex or DSLR cameras.

Camera makers are facing a tough future as smartphones get more and more sophisticated. Along with improved efficiency and performance, these handy mobile devices are also getting equipped with camera lenses and image sensors that are starting to eclipse the lower end of the digital camera spectrum. After all, why buy a separate digital camera for several hundred dollars if your latest smartphone can do the same and more.

Canon, who has been putting out such low-priced digital cameras, as much as 20 models annually in the past, is seeing a steep decline in that market segment. Canon defines low-priced models as those that are priced 20,000 yen or below, around $195. That's definitely below the price of a smartphone with a decent camera lens, but one might as well get a more expensive smartphone model than have two devices.

Of course, not many might follow that logic. Some more photography oriented individuals might prefer to spend a bit more on a camera and keep their smartphones simple, if not dumb. There seems to be some opinion within Canon to prolong the life of low-end digital cameras, but they were voted out.

Canon, of course, will still be making digital cameras, but it believes that its business is better served by a focus on the higher end, and indeed that might make more sense. Those who care enough about photography will most likely keep their smartphones in their pockets and purchase a dedicated DSLR camera instead.

Thanks for the tip, DANBO!

VIA: Nikkan Kogyo