Per the report, Casio cited declining demand for compact cameras as reason to leave the market. The company will remain committed to higher-end cams, but this decision will reduce the company's earnings forecast.

The company produced some oddball cameras in its day, like the 'Kawaii Selfie Mirror Cam' with a front-facing reflective service to, well, improve your selfie game. Its experiments included a detachable action camera and a nine-exposure burst-shot point-and-shoot. But in the end, the rise of smartphones with high-resolution lenses are likely to blame for killing demand for discrete little cameras.