Whether at a concert, at a football game, or near a landmark, if you take a moment to look around, the smartphone has become the method of choice for taking pictures. Data from Flickr shows how Apple's (NASDAQ: AAPL ) iPhones in particular are driving growth in photgraphy. The site's listing of most popular cameras shows that the iPhone 5 comes in first place, the iPhone 4S is the second most popular camera used to take pictures on the site, and the iPhone 4 comes in third place.
The emergence of smartphones as a popular camera option is killing the point-and-shoot camera. A recent MarketWatch article pegged year-over-year sales declines in point and shoot cameras at 26%. Yet at the same time, detachable lens cameras like SLRs saw 5% year-over-year growth.
In the following video, Fool analysts Eric Bleeker and Lyons George discuss why smartphones are so good at killing "good enough" products. An iPhone is far more convenient to hold that a point-and-shoot from Sony and takes comparable pictures. However, smartphones have made millions of consumers more accustomed to taking pictures as a hobby. The result is that more professional devices like SLRs are actually benefiting from the growth of smartphones.
What areas smartphones disrupt or create new opportunities in is an important area for investors to think about, as software on smartphones increasingly controls housing functions such as media, thermometers, and even locks to doors. To see Eric's and Lyons' full thoughts on the subject, watch the video.
It's incredible to think just how much of our digital and technological lives are almost entirely shaped and molded by just a handful of companies. Find out "Who Will Win the War Between the 5 Biggest Tech Stocks" in The Motley Fool's latest free report, which details the knock-down, drag-out battle being waged among the five kings of tech. Click here to keep reading.