Casio officially pulled out of the consumer card market on April 24 and will no longer offer any digital CARDS. Will focus on producing high value-added camera products.
According to reports, the main reason for casio’s decision to leave was the severe decline in sales of consumer CARDS in recent years.
Goodbye, king of cameras!
Speaking of the casio camera, some people may be a bit nostalgic, a bit sad. For many, the casio camera used to mean poetry and the distance.
It was the world’s first digital camera with a 1.8-inch screen, and at a modest price, that set off the first digital camera market.
It was the first camera that can listen to music. With a thickness of only 11mm and streamlined design, it is full of fashion and fashion.
It has won the reputation of “selfie stick” for itself with its feminine appearance design and beauty function, and become the most popular card camera on the market, ushering in a new era of selfie beauty.
However, the reality is so cruel that in just a few years, casio has gone from strength to strength to decline.
Market atrophy is serious! Casio renounced card cameras
Japan’s domestic digital camera market is shrinking due to the popularity of smartphones. According to the Japan CIPA association, casio shipped 1.9 million digital cameras in 2013, compared with a sharp drop to 670,000 in 2016. The overall market is also in a sharp decline, from 8 million units in 2013 to 3.52 million in 2016, and sales of nikon digital cameras, its main competitor, have also slumped.
After announcing its exit from the consumer camera market, casio also revised its forecast for fiscal 2017 (casio’s fiscal year ends in March 2018), with sales expected to fall to 314 billion yen, for a total of 36 billion yen, and net profit also down by 3 billion yen to 19.5 billion yen. In addition to the digital camera business, casio also integrated the Musical Instruments and other departments, integrating key technologies of each department for new product development. ?
Casio: timely transformation may reverse the negative situation
Of course, casio’s decision was a forlorn one, given that the card camera market is shrinking. Over the years, major mobile phone manufacturers have been increasingly focusing on the “selfie”, and the beautification function has become the standard of almost all mobile phone series, which has become an obstacle to the development of casio’s selfie camera. And with fewer consumers buying card cameras, casio is losing focus. Consumers are buying fewer cameras and the industry is barely paying attention, so giving up is the best option.
Mr. Casio said that while the card cameras were abandoned, they would focus more on higher-value camera products to guarantee a certain amount of revenue and profit. For them, consumer card cameras have been the company’s flagship product, but they lost 500 million yen in the last fiscal year due to poor sales. So a timely transformation may reverse the current unfavorable situation.
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