They've bungled it. There are two good times to launch stuff - autumn pre-Xmas, and spring pre-summer. Photokina, in the autumn and biennial, left a big gap for other shows to jump into the annual spring slot, and that's what they've done very effectively, especially with their emphasis on consumer electronics in general rather than just photography. Switching Photokina to annual has always been a good idea, but moving to the spring makes no sense now and they've been greedy by trying to sweeze two shows into the transition year and may pay a high price by opting for the only alternative and skipping a year.
That means the substantial cost of exhibiting will miss a business year, going straight to manufacturers' bottom line, while rival shows will seize the opportunity to squeeze out Photokina. If manufacturers discover that they can manage without Photokina, the task of reinstating that cost back into their budgets will be a double struggle. I'm sure Photokina will continue, but perhaps not as the global focus of attention it used to be. They've shot themselves first in one foot, and then the other.