It's going to take some major technology leaps for cell phone cameras to replace SLR's,but I do think they're already cannibalizing the point-and-shoot market,

It's going to take some major technology leaps for cell phone cameras to replace SLR's,but I do think they're already cannibalizing the point-and-shoot market, which was a pretty big part of the camera market (certainly by volume at least). I think if phones started coming with a better flash, it be very hard to justify bothering with a separate point-and-shoot camera. Although, to be fair, most point-and-shoots have a pretty crappy flash as well.