As we are all aware more images globally are being taken with mobile phones than cameras and this has been going on for some time. Great news for Apple – US and Samsung – South Korea, of course but it’s a major headache to Canon and Nikon as their sales decline and affect the Japanese economy.
"Smartphones are killing cameras across the globe. There is nowhere to hide, no magic country where the market is stable," said Christopher Chute, research vice president at IDC, a global market intelligence firm. "That’s been a huge problem for Japan."
Between 2013 and 2014 alone, point-and-shoot sales fell 30 percent, according to Ben Arnold, executive director and industry analyst at the NPD Group.