Mundi - hello and welcome to the forusm.
As Glen mentioned, I am currently at HKSupplies - the company that supplies grey imports to forum members in Australia via Birddog (see bargains section for more details). Although it's not a retail shop, you're welcome to try HKSupplies for your photographic needs. Depends what item(s) you're after - as this place mostly deal with Nikon, Canon, Contax, Hassleblad and other high priced (and high profit!) items. There are a few point and shoot
models that come in occasionally.
There are plenty of photographic & electronic shopping areas. While prices can vary between locations, they are usually fairly competitive within each shopping mall.
If you visit the HK tourist info centre when you're here, you can pick up maps and guides as to where to best do your shopping for various items. Beware: make sure you do your research beforehand. Know what you want to buy, and how much it should cost... or you risk getting ripped off.
Stanley Street, Central. Lots of photo shops on this one street, photographic haven.
Wan Chai Computer Mall, Wan Chai - 4 levels of computer/hardware vendors.
Windsor House, levels 10-12, Causeway Bay.
AV Leader on Percival St, Causeway Bay. Reportedly with "no haggle" prices, this is a welcome change to other places where normally there are no marked prices and the sales guy ask for as much as they perceive you'll pay.
Over from the main HK island, Tsim Sha Tsui and Mongkok in Kowloon district are the big shopping locales - and apparently have better prices than on the island for electronic goods.
Then there are the big electronic chains - Fortress and Broadway. These are considered the "safe bets", as you won't be tricked into buying grey imports with no warranty of any kind to speak of, and guaranteed after sales service. But it's the Harvey Norman of HK - ie. clueless staff and overpriced goods by local standards, but if you're buying a camera package you may still get a good deal if you purchase flash memory, extra batteries and other accessories with your camera (get it thrown in free or at reduced cost).