Smartphones Are Saving You Money

We all know that a smartphone has numerous, almost endless capabilities, but what we may not realize is that they are allowing us to buy less and save some money. They are allowing us to forgo current and or future purchases of electronic devices. The recent influx of smartphones and other Web-enabled mobile devices has made a number of once-popular gadgets nearly obsolete. GPS navigation systems, net-books and portable music players have all taken a major hit in the last year as consumers have started gravitating toward newer, more multi-dimensional devices.

Results of a recent study conducted by the research firm Berg Insight suggest that standalone digital cameras may also be on the chopping block. Although manufacturers of these devices did not see a drop in sales when the first camera-enabled phone hit the market several years ago, they have experienced a steady decline over the last 18 months. The reason, most analysts argue, is that today’s smartphones are capable of capturing high-quality images and video, something they could not do just a short time ago.

Andre Malm, a senior analyst at Berg Insight, told the New York Times that the global shipments of digital cameras fell from 140 million units in 2008 to 125 million units last year. This decline, which is expected to continue, is partially due to the fact that today’s 12-megapixel smartphone cameras are comparable to some of the market’s lower-end digital cameras. Malm admitted that the stagnant economy most likely had an adverse effect as well.

“There is no doubt that the smartphone is transforming many of these markets, not just navigation devices, but cameras and media players, too,” Malm told the Times. “These markets aren’t going to disappear, but they are going to change substantially.

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