Sources at Japanese Business paper Nikkei report that Panasonic will be reducing the number of compacts to focus on its Digital Single Lens Mirrorless (DSLM) cameras.
Panasonic's digital camera output in 2014 will centre on cameras that cost in excess of 30,000 yen (around £180).
Given that this is anticipated to be the second consecutive year in which Panasonic will lose money from its digital camera division, it is hardly surprising that the firm will reduce its camera output to concentrate further on products for business.
It's a shame too, since despite the poor sales Panasonic has had a number of success stories with the Lumix series this year in terms of quality cameras. We recently tested the Lumix GM1 and were hugely impressed by the number of features it packs into a body the size of a pack of cards.
Commenting on the news, Michael Topham - Reviews Editor of What Digital Camera says 'It has been an incredibly busy twelve months for Panasonic with some key product launches staggered throughout the year. The quality of the product the manufacturer continues to produce is of a very high standard and should serve Panasonic well leading into 2014. With so much investment in the Lumix brand and so many superb models in the Lumix lineup, it would be difficult for any manufacturer to sustain the pace of development like Panasonic has. It's therefore no great surprise that rumours suggest we're set to see roughly half the amount of cameras launched next year as we've seen this year.'