The rise of the smartphone is a near match for the decline of the compact camera – and while the camera industry has struggled amid rising capabilities of smartphone cameras, brands are seeing steady growth over the past few years. A big driver of that growth? The pushback against the smartphone camera.
In a report to investors detailing the first half of 2026, Canon Chairman and CEO Fujio Mitarai says much of Canon’s growth in 2026 has stemmed from strong camera sales. Compact cameras have been growing particularly well for Canon, as models like the PowerShot G7 X Mark III find newfound popularity among users who find smartphones can’t compete with the camera’s flash and zoom range.
But, the CEO says that even mirrorless cameras have seen growth as part of the trend towards reaching for a dedicated camera instead of a smartphone. “As for interchangeable-lens digital cameras, sales increased due to a growing number of new camera users, particularly among young people, who are seeking a photography experience different from that of smartphones,” the report reads.
The report specifically names the Canon EOS R6 Mark III, a mirrorless camera launched late in 2025 that has been a frequent name among some bestseller lists, as a camera that has done particularly well.
The compact camera trend remains strong, however, and Canon has once again stepped up production and included supply volume for popular point-and-shoot models. The larger sensor PowerShot G7 X Mark III remains hard to find after the camera went viral on social media, while models like the 40x zoom PowerShot SX740 HS have also risen up best-seller lists.
In the first half of 2026, Canon’s camera sales have increased by 16.9 percent when ranked by sales price.
Sales across Canon’s different business units, which also include printers, medical, and industrial, rose by 3.5 percent.
According to the report, higher memory and raw material costs remain a concern, but the company has increased net income by 9.8 percent compared to the first half of 2025.
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