One of the primary vectors of miniaturization is in the electronics (vs the Kodak 4800 for example). In this <1 inch thick Casio, all of the electronics fit on a 1.25” square double sided board (marked above).
At this size of camera, the flash capacitor is one of the largest components by volume. The camera is roughly: 40% 3x zoom module, 20% LCD screen, 10% battery, 10% flash+capacitor, 10% electronics and flex circuit, 10% structural plastic and metal with viewfinder.
