How’s this for disruption – a 42% drop in the volume of point-and-shoot cameras shipped in the first five months of 2013.
Olympus expects their volume of low-end cameras to drop 50% this year compared to last.
Those cameras are being replaced by smartphones – people are using their phones instead of a separate camera.
I have seen lots of tourists holding up an iPad to take pictures of family while sightseeing.
Imagine that. Dedicated point-and-shoot cameras replaced by smartphones.
First Kodak files bankruptcy and merely a year later digital camera sales are collapsing (filing was in January 2012).
Fasten your seatbelts – the change accelerates.
Check out the Wall Street Journal – The Point-and-Shoot Camera Faces Its Existential Moment.