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Hello, iPhone 5! Goodbye, Point & Shoot Cameras, We Hardly Knew Ye

Apple's new smartphone is just one more nail in the coffin of low-end cameras
Hello, iPhone 5! Goodbye, Point & Shoot Cameras, We Hardly Knew Ye
Photograph by Richard Newstead

Did you hear that? That anguished wail yesterday at around 10 a.m. Pacific? That was the point-and-shoot camera industry.

Yesterday’s Apple event highlighted the ever-quickening pace that the smartphone industry is taking casual photography, and the ramifications are significant for camera makers—and more for some than others.