SanDisk developed the CompactFlash (CF) format and manufactured the first devices back in 1994, which makes the technology 22 years old.
That on its own is enough of a reason to replace it, and it seems Nikon is doing its best to crown the XQD format as the successor.
Not only will the newly announced D500 use an XQD memory card, the flagship D5 will be available with either dual CF slots or dual XQD slots, and according to a recent rumor 90% of the new cameras will come with the latter.
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