Canon with 23% decline in camera sale

Canon came out with its first-quarter financial results for 2019. They are reporting a decline in 82% decline in operating profits with a 23% drop in camera sale compared with the previous period. The company is indicating that the market share of the traditional camera might shrink to half in the next two years due to smartphones. Canon is also stating that mirrorless cameras could be the future of the camera industry.

We earlier stated that smartphone cameras are trying to match the quality of a traditional camera. If this happens then the market share would turn. The companies like Sony and Samsung would be the leaders as they are also in the business of smartphones. Anyways the smartphones need to be very smart to take on the traditional cameras as of now.

If we look at the current scenario we have so much when we click a picture from a mobile device. We can share, edit, add filters, store on the cloud all this lacks in the traditional camera space. The Industry must take this into consideration and innovate before it too late, or we will have a similar story of what happened with negative camera roll companies. [Canon]

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