Canon CEO Sees Shrinking Digital Camera Market in 2009

Canon President Tsuneji Uchida

Canon president Tsuneji Uchida, pictured above with the new EOS 5D Mark II, has expressed worries that the digital camera market may shrink next year because of sluggish economic conditions. As a matter of fact, the economic slowdown has started to hit sales of digital single-lens reflex (DSLR) cameras, Uchida said, but overall Canon’s camera sales are solid ahead of the year-end shopping season.

In 2007, the digital camera market grew 24 percent to 130.7 million units according to figures from the research firm IDC and this year, Canon, Nikon and Sony are still forecasting growth.

2009 though will be a different story. “We hope we will see the same level of demand next year as this year,” Uchida said. “Whether or not that will become reality is up to economic conditions.”

[Via: Reuters]
Photo: Reuters

Published by Chris Malinao

Chris teaches Lightroom as workflow software to photography students at the FPPF, Federation of Philippine Photographers Foundation. He also teaches smartphone photography.