Panasonic to reduce entry-level compact camera models by 60%

Panasonic is the third company to announce that it is cutting down investments in the entry-level compact camera business after Olympus and Fujifilm.

Panasonic has held a private meeting with the investors, in order to discuss the company’s future plans. The Japanese corporation has published the documents, which sum up the session revealing that we will see less entry-level compact cameras launched on the market in the future.

All camera makers in the world are reporting weaker sales in the low-end compact camera segment. The reason for that is pretty obvious and nobody is denying it anymore: smartphones are “eating” compacts’ piece of the pie, as their image sensors have got better in recent times.

Panasonic will cut down investments in entry-level compact camera business, in order to focus on higher-end models and mirrorless Micro Four Thirds systems, becoming the third compact to do so after Olympus and Fujifilm.

After Olympus and Fujifilm, Panasonic is also cutting down entry-level compact camera investments

The consequences have already been felt by Olympus and Fujifilm, both announcing a reduction in the number of compact camera models. If Fujifilm reduces the models’ number by 50% this year, then Panasonic will got a step further, as investments will be cut down by 60%.

Panasonic is also expecting the mirrorless industry to grow in 2014, as well as the higher-end compact line. As a result, the Japan-based corporation will focus on these two segments, while increasing the “products’ uniqueness”.

It appears that the company is planning to release better and better products, which will have significant advantages over their competitors, in order to try to increase sales as well as profits.

It is said that the uniqueness will consist out of a new lineup of interchangeable lenses that will provide improved video recording capabilities. As for the advantages, they will lie in a high-speed autofocus system among others.

Panasonic is rumored to announce a new GF camera and the GX7 soon

This official report is in line with recent gossip talk. The rumor mill has revealed that Panasonic is going to announce an ultra-small Micro Four Thirds camera in late 2013 and release it in early 2014. It will be a part of the GF series and it will be the company’s smallest MFT system ever.

Moreover, a GX1 replacement is coming soon. The Panasonic GX7 is rumored to feature a tilting viewfinder, new 18-megapixel sensor, and built-in optical image stabilization technology.