When was the last time you bought a no-frills camera? Exactly…
Seeing as how most people now carry a phone with a pretty good camera built in, compact cameras have to significantly up the ante to attract an upgrade purchase — and they can’t do that too well at the low end of the market. What does a $100 camera do that your phone doesn’t — except hurt your wallet less when you lose or break it?
So the general online response to the Wall Street Journal’s report that Olympus will halt production of <$200 models was a resounding lack of surprise.
The elimination of the V series of compacts comes after the company’s camera business posted a loss in the last fiscal year through March, “because demand for compact cameras turned out to be weaker than expected, the company said.” What were they expecting? Well, they did sell 5.1 million cameras last fiscal year, but in light of recent weak sales now look to move only 2.7 million this year.
Olympus says it will concentrate on its well-received mirrorfree interchangeable lens models.