Camera sales are continuing to falling off a cliff. The latest data from the Camera & Imaging Products Association (CIPA) shows them in a swoon befitting a Bollywood roadside Romeo. All four big camera brands — Sony, Fuji, Canon, and Nikon — are reposting rapid declines. And it is not just the point and shoot cameras whose sales are collapsing. We also see sales of higher-end DSLR cameras stall. And — wait for it — even mirrorless cameras, which were supposed to be a panacea for all that ails the camera business, are heading south.

Smartphone cameras continue to gut the compact camera market. However, sale of interchangeable lens cameras (DSLRs and such) seem to have stabilized.

As good as smartphone cameras are, there are limits to what a camera that fits in your pocket can do. But does the average Joe really care about image resolution? After all, the photos today are mostly viewed on a small screen.

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