As compact cameras become trendy again, demand has exceeded the supply of existing models, sending used prices skyrocketing. That’s particularly true for cameras like the Canon G7X Mark III, which is several years old but thanks to social media trends is in high demand. But a recent interview with Canon chairman and CEO, Fujio Mitarai, sheds light on why Canon isn’t just flipping a switch to start making those compacts again.
Canon closed its factory in Zhuhai, China, in 2022 due in part to lower demand as well as the impact of COVID-19. But the interview with Nikkei Asia sheds some light on the impact of that closure – that factory was where Canon made its compact cameras.
