Tokyo, Jul 12 (IANS): With an aim to focus more on mirrorless camera models, Japanese imaging giant Nikon is planning to stop producing single-lens reflex (SLR) cameras, media reports said on Tuesday.

According to Nikkei Asia, the company will withdraw from the SLR camera business and shift toward digital offerings amid intensifying competition from smartphone cameras.

As per the report, it now plans to focus resources on mirrorless cameras, which have become mainstream products on the back of more advanced digital technologies.

Nikon's SLR cameras have been widely used by professional cameramen for more than 60 years and have come to be seen as synonymous with the Japanese company.

The report mentioned that Nikon's cameras have been losing out to smartphones, which increasingly feature powerful cameras. It aims to out-compete them by offering products with more unique features.

Last month, Nikon released the Z 30 APS-C size mirrorless camera which is said to be ideal for vlog content creators.

The company, earlier, said that it will continue to pursue a new dimension in optical performance while meeting users' needs, contributing to the development of imaging culture, with the hope of expanding possibilities for imaging expression.

Meanwhile, Sony and Canon, the best-known camera brands, are also focusing more on mirrorless cameras.

In December 2021, Canon's CEO confirmed the '1DX Mark III' will be the company's last flagship DSLR.

The latest sales report from Japan, compiled by BCN Retail, revealed that Sony is the leader in the mirrorless camera market while Canon leads the DSLR market in sales.

The global mirrorless camera market is expected to grow at a compound annual growth rate of 3.67 per cent to reach a market size of $2.54 billion in 2026.

In Asia, the market is expected to be led by India and China, because of the rise in the popularity of wildlife photography, the movie and film industry and other factors, according to Research and Markets.