sgangker wrote:
Yes, it is definitely true that the smartphone has eaten into the compact camera's market.
But there are still some unique niches in the compact camera market which the smartphone cannot catch up yet. The 'bridge' camera like the SX70, SX740 etc. But Canon will need to upgrade the sensors in these camera to at least 1" sensor with PDAF/DPAF in order to sell. G3X is a good example but not sure why they did not bother to come out with a Mark ii for it.
I believe there is still a demand for compact camera for video/vlogging usage etc. I think Canon knows about it too as it was mentioned in a Canon Interview in June 2021. However, they put their priority in the RF mount lineup (trying to catch up with Sony which has quite a number of years of head start). But you can't blame them. As a company, they will put their focus in the market with the most profit margin and least likely to be affected by smartphone. I think Sony has noticed the demand too and that is why they come out with the ZV-1 and ZV-E10 which are primarily meant for video/vlogging usage.
In the Canon Interview in June 2021, Canon mentioned that the development of compact devices supporting 8K is a very high priority. But we do not know what kind of compact devices are they referring to. It could be a G7X Mark IV or a M50 Mark III or a new EOS R camera.
I enjoy using my G7Xii more than my smartphone and will continue to use it till it reaches its end-of-life or when something better comes up.
Speaking of both, I think Canon will do a M50 Mark III with a 90D sensor, someday, just because they can (parts exist to swap out) and the demand is there still for the M50.
G7X IV? Demand is there, but parts? They'd need to do their own 1" DPAF sensor. They can now though, but this may be some time as the R3 and upcoming R1 will tax the new fabrication process for the stacked CMOS bunch.