Let's see:
Smartphones:
I don't get it. People with cameras in their phones buy the phones for communication not because of the camera. It is mandatory. Like video in still cameras. Now, if I buy a still camera. it comes with video. Nowadays I shoot videos now and then but in reality I couldn't care less. I still have to buy me a nice dslr every 3 years that costs the same a nice used car. Also steady renewing my lens line in order to keep apace with technology.
Competition:
Still don't get it. It is true there are more players now but some are gone too. Every single store in the world has a plethora digital cameras. Supermarkets used to sell negative color film only. Now they sell gear and cards. Same with stationary stores, home improvement stores, etc., etc., you name them. If everybody sells cameras now, it is because a lot more people buy cameras now than before, despite smartphones. The world economy exploded in recent years. India and China are now gigantic consumer powerhouses. This is like having 2 more USA's. in 20 years. Latin america is a lot more sound than 20 years ago, the same with many countries in Asia. In my limited perception, I'd swear that everybody involved manufacturing cameras should be successful at selling them by container load.
Photographers and many other creative careers are struggling because the competition from "civilians", that's true. But manufacturers all over should be having a life in the horns of abundance.
Percolating ground coffee used to be a humble part of the food service in stores. Now, it is a multimillionaire business. Why is the camera industry in decline? Gimme a break!
If they are, it must be because they're doing a few things very wrongly. Greed must be backfiring!
Eduardo