Canon, the world's largest manufacturer of cameras, recently cut its sales forecast and profits for this financial year.
We live in an era where documenting each and every event has become primary habit. Every occasion is celebrated with pictures, then editing them and posting them on social media to let the world know, how much fun we had on this particular day, where Smartphone plays medium of joy rather than a camera.
Canon, the world's largest manufacturer of cameras, recently cut its sales forecast and profits for this financial year. As reported by Bloomberg, while predicted sales of its EOS line of SLRs and interchangeable lens cameras (ILCs) dropped by 4.3 per cent, the biggest decline came in the compact arena. The company now predicts sales of 19 million units, a cut of 9.5 per cent from previous years.
It's a trend that has been reflected across the industry as a whole. Market research firm IHS cited global camera sales as dropping to 115.2 million units this year, down 4.3 per cent.
It would be remiss to call 100 million insignificant. Until you compare it to Smartphone sales, which this year hit 161.7 million shipments in the third quarter of 2012 alone, according to Strategy Analytics.
Here are a few points to back that why Smartphone has stolen the thrill of camera industry:
Lack of Innovation:
If one compares the latest development that has taken place in recent times only in the Smartphone category, one can easily point out the difference between the Smartphone of yesteryear and today.
But when you look at the camera industry the last development in the name of innovation was done years back. When one takes a picture on Smartphone he can edit it and post it on social media right away unlike cameras where the process takes time.
When one looks out for options to buy camera, the basic camera costs around INR10,000 where as a Smartphone with dual camera, better editing options, can zoom up to 6x and adjust focus at the same amount of basic camera.
It becomes difficult for anyone to carry an expensive camera when smartphones are cheaper and can be handled easily without breaking. People allow children to take pictures whereas they hesitate to keep the camera out.
Only for Professional Needs:
People who are really into photography or who can afford to buy expensive set of cameras for long-term benefits such as in case of broadcast photographers, wildlife photographers or who make money out of photography prefer using camera over Smartphone.
But these days anyone can shoot from his/her Smartphone camera and use it. Cameras and CCTVs are for limited people for limited purpose only; basically they are preferred to be called as professional equipments.
Heavy Yet Delicate:
Professional cameras have multiple units, lenses which are heavy and occupy a lot of space at the same time those expensive cameras come with delicate lenses, which are not easily available in market. Smartphone such as iPhones have better picture quality and delicate yet compact to carry.
Smartphone are multipurpose items, which serve extra purposes other than photography alone, which is why people prefer Smartphone instead of expensive heavy yet delicate camera units.
When there is cut throat competition in Smartphone companies, every other Smartphone company is working to make their product look special and more worthy than the others especially on the advertisements, there is hardly any only camera company’s advertisement running on television.
The hoarding, banners and sponsor list is filled with Smartphone companies’ tags and names, whereas only a few camera companies’ name is encouraged.
Due to poor marketing and advertisements of Camera industry, it is losing its grip from the market.