Olympus, the Japanese imaging company, had announced it would phase out the low end compact camera lines and focus on the high end premium models in order to expand its consumer base in India. 

The company's low end compact cameras are priced between INR4,500 and INR32,000 in India. This decision was borne out of the competition from smartphones. Now, it would focus on its premium categories, with models between INR25,000 and INR1.06 lakh.

According to Olympus Imaging India Pvt Ltd Managing Director Kenichiro Mori, in an interview with PTI, "Going forward, we will not launch any new low-end compact camera models. Market for compact cameras is shrinking fast due to smart phones."

Mori elaborated, "Premium category is a good opportunty for us. Despite smart phones, serious photography enthusiasts still buy good cameras. We will focus on this category only. We will introduce more models in the premium category."

Overall, compact cameras account for 80% of the total turnover of Olympus in India.