Canon Business General

Canon says digital camera market may shrink in 2009

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From Reuters:
TOKYO (Reuters) – The global digital camera market may contract next year, the president of industry leader Canon Inc (7751.T: Quote, Profile, Research, Stock Buzz) warned, as sluggish economic conditions dampen consumer demand.

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5 responses to “Canon says digital camera market may shrink in 2009”

  1. We shall see. If the slumping economy continues, cuts will occur across any company resulting to a decrease in products. Even if the demand is high, the supply will be low – resulting to an increase in price. So for those who wants the 5Dmk2, my advice is try to get it now. Any company can cut production at anytime.

    If Canon decides to run a slimmer and leaner business model by cutting staff and reducing the numbers of their products. They will increase their price on new products to maintain their past revenue. As companies continues to reduce their prices on old products to clean out their stock, new products will be lesser in number but an increase in price. It may sound stupid, but this business model has work in the past.

    Sorry folks but the signs are there. Hopefully with the new administration and restructure of global economy things may be different. But I don’t see that happening for the year 2009 or 2010. Hold all to what you have cause it will be difficult times for digital cameras.

  2. Sooner or later, this economic crisis is gonna start having its affect on professional and amateur photographer’s disposable income…thus, a possible shrinking in market for 2009. Most professional/amateur photographers already have cameras in use anyways, and they can choose to hold of purchases of new models.

    It’s kinda sad if all this economic doom and gloom slows down technological advances in digital photography (especially after what we’ve seen with the new Canons and Nikons)…after all, for Canon, Nikon, Sony, and other manufacturers, they’re in the business for the money. And if the market is sluggish, then so will be new developments and releases.

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