Japanese Nikkei news agency reported that electronics manufacturer Casio is leaving the compact digital camera market. The company closed its last fiscal year, which ended in March 2017, with a loss of $500 million. yen approximately $4.6 million .
Casio QV-10, 1995. First camera with LCD screen
Speaking about the reason why business has not been profitable lately, Casio cites significant reduction in the supply of compact digital cameras. The company also predicts a decline in this market segment in the future and sees no sign of a trend reversal.
In its history in the photography industry, Casio has made significant contributions to the development of digital cameras. Casio QV-10, released in 1995, was the first consumer digital camera equipped with an LCD screen. The company was the first to market with a 3 megapixel camera and pioneered ultra-thin cameras with the Exilim line in 2002.
Casio has already withdrawn compact cameras from markets outside Japan, but still sells some models in its home country.
What prompted Casio to make this decision and what implications does it have for the future of the company?
Why is Casio exiting the compact digital camera market? Is it due to declining demand, tough competition from other brands, or a strategic shift in focus towards other products?