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2.5 Million Digital Cameras Shipped in Q3

11/22/2002 09:27:00 AM Eastern

Framingham, Mass. - Digital cameras continue their strong showing at retail, racking up shipments of 2.5 million units during the third quarter of this year, according to the market research firm IDC.

IDC, Framingham, Mass., attributed shipment growth to channel dealers stocking up early in anticipation of a highly successful holiday season for the digital camera category.

Market leader Sony continued to hold the lion's share of the market with 29 percent of units shipped in the third quarter followed by Kodak with 15 percent and Olympus with 14 percent.

According to IDC, all top vendors continue to be successful by marketing higher resolution cameras between $199 and $399.

IDC expects this strong growth to continue through the holiday season when prices are expected to further decrease as vendors battle for market share.

'We are thinking that the market will reach about 9-9.3 million units shipped for the whole year,' said Chris Chute, analyst, IDC.

'Digital cameras are the in category for this holiday season, and consumer confidence has not really affected the category. That means a strong Q4 timeframe,' Chute said.