Could you build your own camera? And would you want to?

It will definitely cost more like $100K ... So, while the incredible level of integration in electronics is largely responsible for the rapid recent developments in professional video cameras, I don't think we're going to see a proliferation of generic camera camera brands posing a threat to the existing, well known, manufacturers.

mobile phones and action cams...

That's right - you can have your own phone designed an in production for as little as $1000, if you go to the right place in China. And these phones won't be rubbish. They may lack some of the finesse of the larger manufacturer's phones, but they will look and feel essentially as good.

How is this possible?

It's because modern phones are largely made from commoditised components and software. While it's true that the supergiants of the phone industry - Apple, Samsung for eg - rely on their own innovations in design and spec for their flagship products, these quickly get cloned and made available for anyone who wants to make their own versions.

The parts that make up a phone are now so easily available that, according to a recent article in Bloomberg,customers can pick and choose from a range of standardised components and put their own phone together for as little as $1000.

Let's say you want to sell an action cam, not because you really want to be in the camera business, but because you want to have a quintessentially cool product associated with your brand. Do a quick search on alibaba.com and you'll find dozens of "no-name" action cams - some bearing a strong resemblance to the well-known names! You can easily imagine how you could have one of these designs make with your own branding. How good are they? Probably not bad, because they will have access to many of the same components you'll find in the top named brands.