The fact that everyone is eagerly watching the success of the six companies (Nikon, Olympus, Panasonic, Pentax, Samsung and Sony) that have entered the Interchangeable Lens Compact Camera (ILCC) fray, certainly augurs well for the imaging industry. One could also expect a late but stunning reply from Canon. Definitely, smartphones will try and erode the demand for compact cameras. However they could succeed if there is a dramatic price drop. Although, given the current pricing this seems highly unlikely.
In the meantime, we can be sure to expect some stunning new SLRs from Canon and Nikon.
H. S. Billimoria