Report: Casio exits compact camera business due to major financial loss
Apr 25, 2018
Dunja Đuđić
Dunja Djudjic is a multi-talented artist based in Novi Sad, Serbia. With 15 years of experience as a photographer, she specializes in capturing the beauty of nature, travel, concerts, and fine art. In addition to her photography, Dunja also expresses her creativity through writing, embroidery, and jewelry making.
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According to the latest reports, Japanese electronics company Casio has decided to exit compact camera business. After more than two decades of producing compact digital cameras, the company has decided to withdraw from this market due to the financial loss.
As Nikkei reports, Casio’s digital camera business had a loss of 500 million yen ($4.58 million) in the fiscal year that ended in March 2017. Reportedly, Casio now plans to change the strategy of its digital camera business and review the structure of its musical instrument business.
According to the Google translated text on Nikkei, Casio plans to “to specialize in high value added camera products.” I’m not exactly sure what it means, but perhaps the company will focus more on high-end professional cameras. Or maybe we’ll even see a mirrorless camera from Casio sometime in the future? Either way, the company doesn’t seem to profit from its compact cameras any longer. But I hope we will see some interesting changes in the years to come.
[via Photo Rumors; lead image credits: Morn/Wikimedia Commons (modified)]
Dunja Đuđić
Dunja Djudjic is a multi-talented artist based in Novi Sad, Serbia. With 15 years of experience as a photographer, she specializes in capturing the beauty of nature, travel, concerts, and fine art. In addition to her photography, Dunja also expresses her creativity through writing, embroidery, and jewelry making.
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2 responses to “Report: Casio exits compact camera business due to major financial loss”
i had one and it was a piece of crap!
With the advent of phone photography, compact cameras are a thing of the past. There is no camera in the 1000$ mark that can be as portable or as good as an S9+