An object of this invention is to provide a camera which properly, effectively controls lens collapsing operation and is excellent in usability and the like, and a control method therefor. To achieve this object, the camera includes a power source which supplies power for camera operation, a collapsible lens for performing photographing, and a controller which controls the extension and storage operations of the collapsible lens. The collapsible lens is driven and controlled in accordance with a camera operation mode. The camera has a designation function of designating a collapsing control method for the collapsible lens. The controller drives and controls the collapsible lens in accordance with a collapsing control method designated by the designation function. The collapsing control method includes an auto mode and an always lens extension mode. When the power source is turned off in the always lens extension mode, storage operation of the collapsible lens is inhibited.