What do the camera companies need to do to reverse fortunes?

Started Nov 24, 2012 | Discussions thread
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six34sigma
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What do the camera companies need to do to reverse fortunes?
Nov 24, 2012

Cell phones are crushing compact camera sales is what the link below says.  No surprise.

http://nz.sports.yahoo.com/news/smartphones-crushing-point-shoot-camera-124844549.html

Three elements to creating sustainable competitive advantage, although the word sustainable is suspect.

i) Inimitable technology

Advantage the cell phone companies, its a device that one carries all the time and provides a camera that is good enough. Mini mills vs. the steel giants (Bethlem Steel) anyone. Its time for the camera companies to join the cell phone companies to provide a hybrid device that provides the best of both worlds.

ii)Scale

Not sure how much of a factor this is going to be ..... but the cell phone companies are big.

iii) Customer Retention

(a) Customer service is not great from Nikon for example, keep reading about issues. Not sure about Canon. (b) By providing service and products that are valuable. It cannot be just a connected camera, need for it to make calls as well, aka Nokia 808 (or whatever the number). Not sure the camera companies are doing enough to keep their customers especially those that are at a risk of flight. In a developing country am more likely to buy a phone with a camera, not hope that somebody will buy a camera. It performs a primary function for me in being a telephone and the pictures it will take with a 5 or 8 MP camera will be good enough. Samsung has made a camera that is connected and seems to have the technology to bring it all together, phone and camera, perhaps as does Nokia, Sony?. But not Nikon or Canon. Bluetooth headset with a DSLR anyone? That's a bit of tongue in cheek and not serious but a SMALL compact with a blue tooth headset?

From what I can see of the tea leaves we should expect smaller camera companies that exist in a declining market. We as consumers of DSLR's and Compacts should expect to see the consequences of that. Reduced customer service, reduced R&D budgets as an example.

Question is "What do the camera companies need to do to reverse fortunes or do they?"

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Regards,
Sanjay

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