With the increase in market sales of smartphones in recent times, Camera market has been facing some rough times with a constant decrease in the last 5 years. As per a new report from CIPA (Camera and Imaging Products Association), global digital camera shipments have fallen to below 1 millionunits in the first two months of 2019.Camera sales witnessed a 74.1% decline in January 2019 on YoY basis with total shipments falling to 1,001,398 units. Whereas the sales further lessened to only 69.7% in February with shipments coming under the million mark, the exact figure revealed to be was 935,148 units.
Moving on in termsof the total shipments in February of 2019, 521,217 units account for interchangeable lens packing SLRs; the fixed lens camera shipments was about 413,931 units. The interchangeable lens shrank from 798,014 shipments in 2018 to 521,217 units in 2019, a registered decline of whopping ~35% on an annual base.
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The built-in lens or fixed lens cameras also faced a steady decline of over ~24% with sales falling from 542981 units in 2018 to 413931 units this year. Improved smartphone camera quality in recent times can be seen as one of the major reasons behind downfall of camera sales. Various smartphone manufacturers – Huawei, Samsung, Nokia, Xiaomi have been working really hard to bring smartphones with excellent camera quality and they are succeeding year in and year out. Huawei recently launched P30 and P30 Pro which features an amazing camera. Xiaomi also announced Mi 9 with which comes with unbeatablecamera experience at a very reasonable price. To tackle the so-called competition from smartphone manufacturers, companies like Nikon, Canon, and Sony will need to innovate and completely change there strategy for sales, considering the downfall they all have been facing in recent times.