Due to very less demand of entry level compact camera Olympus will shut down the production of its V series of compact camera according to Wall Street Journal, the V Series is also know as under $200 series camera, today smartphones features better image quality, creative apps and image sharing technology compared to the low-end compact available in the market.
Olympus will concentrate on its mirrorless segment according to the company, After selling 5.1 million digital cameras in the last fiscal year, Olympus plans to sell only 2.7 million this fiscal year.
Other camera makers are also struggling ?
Canon faced a 34% decline in net profit for the first quarter , “Low-end compact cameras that don’t have obvious features that stand out will be eventually wiped out of the market,” Canon Managing Director Hideki Ozawa Said during an interview to WSJ.
See Olympus V series camera at Amazon
source – wsj.com
