Casio to exit the compact camera business

Nikkei reports that Casio will exit the compact camera business:

Casio Computer has decided to withdraw from unprofitable compact digital camera by 24th. The number of compact digital camera shipments has declined sharply and it seems that it was judged that future market expansion can not be expected. In the future we plan to specialize in high value added camera products. The digital camera business posted a loss of 500 million yen in the fiscal year ended March 2017. (Google translation)

Back in 2015 Casio made a lot of money by selling a $1,000 selfie compact digital camera (the latest Casio Exilim EX-TR70 model is currently priced around $500-$600).

Via Digicame-info

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