July 21, 2004

Camera Phone to Erode 40% of Digital Camera Marke

Camera phones are expected to eat away 40 percent of the digital camera market by 2008, according to the LG Economic Research Institute and reported by the Korea Times.

"As camera phones are equipped with multi-megapixel resolution, they pose a genuine threat to digital cameras. This trend will continue for years ahead,'' LGERI researcher Cho Joon-il said.

Korean handset makers are looking to introduce 5-megapixel phones within this year and the high-end item is expected to be popularized by 2008.

In the past, cameras were luxury perks in cell phones, but now they are a must in the local market".

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