<p>The world's number two camera maker, Nikon, has slashed the prices of its cameras in response to increasing smartphone sales.</p><p>It is thought that market leader Canon will follow suit and also cut prices. This comes as smartphone manufacturers release phones with 41-megapixel cameras, making them as good as, if not better than, the top of the range digital cameras.</p><p>Ryosuke Katsura, an analyst from UBS in Tokyo, said: "There are too many players. It's going to be tough for smaller camera makers even to remain in the business as competition between Canon and Nikon will likely intensify."</p><p>Interestingly, both Canon and Nikon's stocks have plummeted by more than half since Apple introduced its iPhone to the market in 2007.</p><p><a href="http://www.inquisitr.com/962516/smartphone-sales-cause-nikon-to-slash-prices/">Keep reading...</a></p><p>Read also:</p><p><a href="http://www.webpronews.com/smartphone-sales-threaten-camera-companies-2013-09">Smartphone Sales Threaten Camera Companies</a> (WebProNews)</p><p><a href="http://www.imaging-resource.com/news/2013/09/23/camera-deals-of-the-day-canon-5d-mark-iii-for-2549-refurb-canon-6d-for-1600">Camera Deals of the Day: Canon 5D Mark III body $ 2549, Refurb Canon 6D ...</a> (imaging resource)</p><p>Explore: <a href="http://news.google.com/news/more?ncl=d5NM42MWHIuM77MKnJWvsI2jzsxQM&ned=us">3 additional articles.</a></p>