Casio stopping digital camera production

Casio say they’re pulling out of the digital camera business.
The industry has been shaken up by smartphones.

Casio launched its digital camera unit in 1995, releasing the first-ever model with an LCD screen on the back. The product was a huge hit that helped to trigger a boom in digital camera sales.

But the market has been declining with the growing popularity of camera-equipped smartphones. Casio’s digital camera business has posted losses for the past 2 years, with shipments falling to one-tenth of their peak.

Casio officials say they concluded that the business would not be able to return to profitability.

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