Casio to Shutter Its Compact Camera Business: Report
Casio point-and-shoot cameras have long been popular among consumers looking for an affordable way to capture memories, but it seems that the rise of smartphones has taken a toll on the brand. The company is now reportedly shutting down the business.
Casio’s digital camera business lost over $4.5 million (500 million yen) in the fiscal year that ended March 2017, Nikkei reports.
The 72-year-old Casio has actually made a number of contributions to the digital camera. The Casio QV-10 became the first consumer digital camera to feature an LCD screen on the back in 1995.
It was also the first to release a 3-megapixel camera and was an early pioneer in the area of ultra-slim point-and-shoot cameras. The company’s Exilim line featured cameras 10mm to 15mm thick when it was launched in 2002, and it sparked a war among compact camera manufacturers over ultra-thin designs.
While Casio is abandoning its compact digital cameras, it will reportedly maintain a foothold in the industry by focusing its attention on “high-value camera products.”
(via Nikkei via mirrorlessrumors)
Update on 5/9/18: Casio has officially confirmed its withdrawal from the compact camera market.
