Smartphones crushed digital cameras, but Fujifilm is making a comeback

The smartphone crushed the digital camera.

Before the picture quality and convenience of modern smartphones rendered the tech obsolete for a lot of users, more than 120 million digital cameras were shipped worldwide in a single year (2010) as scores of people picked up simple point-and-shoots to snap candids or artier vacation pics. By 2023 that shipment figure had slipped almost 94% to fewer than 8 million.

But one camera maker has refocused and is now reaping the rewards of burgeoning demand for its faux-vintage digital cameras: Fujifilm.

Online hype — much of it via TikTok — around Fujifilm’s X100 digital cameras has been translating to real results for the Tokyo-based tech giant. The company’s imaging division, home to a selection of buzzy cameras beloved by Gen Z shutterbugs, accounted for 37% of the record-breaking profit it posted in 2023.

A gushing Wired review of the latest version of the camera, which originally launched in 2011 and now costs ~$1,600, posited that the X100VI model might be the “most anticipated new camera… ever,” typifying the buzz around the hard-to-get-your-hands-on device. Grid-friendly models like the X100V and the Instax Mini instant film camera have helped to reinvigorate the Japanese company’s imaging segment in recent years — the ¥102B (~$629M) it brought in last year made it the 90-year-old company’s most profitable division last year.

So why is Fujifilm’s shooter such a rare bright spot in the wider digital-camera picture?

The X100 has managed to rise above the digital decline thanks partly to its nostalgia-friendly credentials. While it mostly functions like a high-quality modern fixed-lens compact camera, the device also offers users the ability to mimic more filmic shots and looks a lot like a vintage film camera, which has helped Fujifilm tap into renewed enthusiasm for the analog aesthetic that’s helped buoy the vinyl revival and other retro pursuits.

To help keep up with consumer appetite, Fujifilm reportedly doubled the launch volume for the VI that debuted in March. But the level of demand surprised even Yujiro Igarashi, manager of the group’s professional imaging group, who said, “I was surprised that although we doubled our preparations, it still came up short.”