It appears that the days of Casio making inexpensive little compact cameras are coming to a close. According to Japanese site Nikkei, they report that Casio is abandoning the compact digital camera market altogether.
In the report, Casio cited the declining demand for compact cameras as the main reason why it’s leaving the market. While it’s exiting the compact camera market, it will remain committed to higher-end cameras, but this decision will reduce the company’s earnings forecast.
While it’s crushing to see the company exiting the compact camera market, it shouldn’t really come as a surprise. Smartphones come with quality cameras these days that they have rendered compact cameras sort of useless, frankly speaking. The high-resolution photos that are produced by smartphones are taking away demand for the compact cameras market.