The Economist published the article “The demand for high-end cameras is soaring” (behind a paywall), giving the $6,000 Leica Q3 as an example:
“Buying a Leica feels like buying a piece of art. Made in Germany, the cameras are sold in the swankiest neighbourhoods, sometimes in shops which double as galleries. The current models pack the latest imaging technology into sleek all-metal bodies. For decades they have been the chosen cameras of masters of photography such as Henri Cartier-Bresson (pictured) and Annie Leibovitz. Their price is extravagant. Leica’s latest compact model, the Q3, costs around $6,000 (an accompanying thumb rest is available for an extra $245). Opt for a flagship M-series camera with a couple of lenses and the bill can easily run into five figures.”
With declining sales, premium cameras are thriving, and the prices keep going up – the latest Leica M11-D model is $10k (with tax):
“Digital camera sales, meanwhile, have fallen by 93%. Entry-level models are steadily disappearing from the market.”
“Premium cameras, however, are bucking the trend. Waiting lists for Leica’s Q3, released in 2023, were initially six-months long. Its success contributed to record sales at the 110-year-old firm last year.”
“As a result, the average price of a camera has tripled in the past six years, according to the Camera and Imaging Products Association (CIPA), a trade group.””
Since 2011, the share of photos taken on smartphones has grown from 25% to over 90%. Digital camera sales, meanwhile, have fallen by 93%.
Entry-level models are steadily disappearing from the market. But premium cameras are bucking the trend https://t.co/8QLffGN0WB 👇
— The Economist (@TheEconomist) September 16, 2024
