If you're looking to buy a new camera, now might be just the right time. Both Casio and Olympus posted major annual losses last week, with the two brands losing approximately $240 million and $1.2 billion respectively. Barclays Capital suggests that the point-and-shoot camera market will shrink 24% by the end of this year.
Nikon has also posted severe losses this year. Global net profits fell 63% this year, despite a rise in demand for digital camera bodies and lenses. However, company execs claimed that price competition from other manufacturers led to a drop in revenue. The Wall Street Journal is reporting that a stronger Yen is in fact hurting these Japanese companies. Although, retail sales numbers have been down all year, and it's hard to drop hundreds of dollars on a camera when times are tough.
Thus, these camera companies are now forced to cut their price tags, which is good for you, and maybe good for the companies later if enough people are attracted by the sales.