Are camera phones cutting into the Digital Camera sales? Well there might be anecdotal evidence for that. RBC Capital Markets chip analyst Satya Chillara points out that “After a soft May, June digital camera shipments out of Japan were also a little weak, bringing Q2 shipments up 11% q/q to 13.9M units. According to CIPA, June shipments on a 3-month rolling average basis were down 4% m/m to 4.6 million units, slowing from May m/m growth of 3%.” CIPA tracks digital camera shipments by Japanese vendors which account for an estimated ~80% of global digital camera shipments. As an aside, now 4 megapixel camera account for 61% of June shipments. If this is the case, expect 512 MB memory card demand to increase, spurred in part by price cuts initiated by SanDisk. I picked up a 256 MB card for $30 bucks from PC Mall recently!