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Point-and-shoot cameras have long been a viable alternative to higher-end DSLR cameras for those looking to explore the world of photography. Their trajectory changed drastically over the past decade or so, however, as smartphones exploded in popularity and their cameras got exponentially better.
The latest casualty of the smartphone revolution? Casio.
The Japanese consumer electronics maker has decided to withdraw from the compact digital camera business according to a recent report from Nikkei (via PetaPixel). Casio’s digital camera business reportedly lost 500 million yen (around $4.57 million) in the fiscal year ending March 2017 as a result of declining compact digital camera shipments.
Casio is perhaps best known for its calculators, watches and musical keyboards but it was also an early digital camera innovator. The company was the first to launch a digital camera with an LCD screen and live view with the QV-10 back in 1995 and was a trend-setter in the early 2000s with its ultra-slim Exilim line. It was also the first to market with a 3-megapixel digital camera, PetaPixel notes.
Casio isn’t getting out of the digital camera business entirely, however, as it will reportedly shift its focus to higher-end camera products.