Canon President Says Camera Market Will Half Over The Next 2 Years

Canon's President Fujio Mitarai has reportedly said that the camera market will shrink by 50% over the next two years. 

Canon Rumors shared the statements after seeing his comments in an article published by Nikkei news which also stated that Canon's camera sales have declined by 10% over the last year and as a result, it's changing the way Canon is strategising. 

The article suggests that the popular camera brand will shift its attention more towards corporate sales, industrial, surveillance and medical imaging rather than focusing on consumer retail sales. It also says that the company believes that once the decline has halted, they’ll continue to sell 5-6 million prosumer and professional cameras.

We can all see how the smartphone boom is changing the way we take photos and Canon aren't blind to that either. Also, interestingly, they believe mirrorless camera sales aren't expanding the market as photographers are simply buying these instead of DSLRs. 

What do you think? We'd love to hear your thoughts below.