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Mirrorless cameras shatter sales records as overseas travel soars

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Shipments of mirrorless single-lens cameras are breaking records, with sales up 20% in the first half of 2023. The surge is apparently driven by several factors, including the revival of Chinese outbound tourism and general expansion of tourism after the global pandemic, new AI-powered models, and a focus on making cameras more user-friendly.

Nikkei Asia reports that according to Japan’s Camera & Imaging Products Association, the largest shipment increase was seen in China, where they were up 44%. Japan and Europe also saw strong growth, with shipments up 30% and 9%, respectively.

15 years of data shows camera sales might not be as bad as we think

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It’s no surprise that camera sales are nowhere near where they were 20 years ago. Or even a decade ago. While sales had already started to slump by 2013, they were still significantly higher than they are today. But out of those cameras being sold, what is it that people are actually buying? And how has the pandemic affected camera sales in the last few years? Turns out, CIPA gives us an easy way to find out.

Iddo at LensVid took a deep dive into the numbers, covering from 2007 until 2022 to see just how camera buying trends have changed over the last 15 years. But the total number of cameras isn’t necessarily what we need to focus on – if you’ll pardon the expression. There are definitely things in the data that come as no surprise whatsoever, but there are one or two things that actually might raise an eyebrow.

Things are looking up for Nikon Imaging as they report a 48% increase in profit over last year

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Nikon released their financial results for the first quarter of its 2023 fiscal year (FY2023) recently and it shows an increase in revenue in just about every segment of the company, including its Imaging Products Business – ie, cameras and lenses. In fact, when it comes to profit, Nikon reported a 47.8% increase over the previous Q1 period in FY2022 and overall revenue appears to almost be back to pre-pandemic levels.

In Q1 FY2020 (reported at the beginning of August 2019), its Imaging Products Business reported a revenue of 67.3 billion yen (~$500 million) and an operating profit of 3.5 billion yen (~$26 million). Last year’s report for the same period showed Nikon at 50 billion yen (~$370 million) revenue and 9.2 billion yen (~$70 million) profit. This latest report shows revenue of 61.2 billion yen (~$452 million) and profits of 13.6 billion yen (~$100 million).

Photography’s decline coming to an end? Canon believes the camera market has “bottomed out”

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Canon recently released its second quarter 2022 financial results and in an attached question and answer document about the camera market and its future, the company was surprisingly open and upfront with regard to questions about the state of the camera industry. Canon says that the camera market “has largely bottomed out at its current size” and that they expect that from here on out, the only way is up.

Of course, it was never going to happen that the camera market would disappear entirely and Canon’s always known this. But they believe that numbers have gotten as low as they’ll get and that interest in photography is on the uptake again. They also say they’ll be producing both mirrorless cameras as well as DSLRs – for now, anyway.

Not dead yet: DSLR sales increase by 132%, but there’s a catch

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Oh, how I wish I had a dollar for every time I’ve heard “DSLR is dead.” But according to the latest CIPA stats (Camera and Imaging Products Association), DSLR is pretty much alive and kicking.

Compared to this time last year, the number of DSLR units sold in the US increased by a whopping 131.8%. At the same time, the mirrorless camera sales saw a 57.1% year-on-year decrease. But why have the tables turned?

Japan’s top selling cameras in 2021, and not a DSLR or Nikon in sight!

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The end of year report for Japanese camera sales in 2021 has been published, and it’s a little surprising, to say the least! No DSLRs, Nikon or Full Frame camera reached the top 10 in sales. While we hear the most noise about the biggest, newest and most expensive cameras, it’s worth noting that often those are not the most popular in terms of what people actually buy.

Digital camera popularity is on the rise in China with live streaming expected to grow 400% by 2025

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An article on the Japanese website Nikkei is claiming that the popularity of digital cameras in China is on the increase. According to the Google-translated version, sales of digital cameras have increased due to a seemingly unlikely suspect. What has historically been the downfall of dedicated cameras, smartphones seem to be the cause. Deficiencies in smartphones that can only be overcome by DSLR and mirrorless cameras have resulted in about a 20% increase in sales over the previous year.

They also say that live streaming is also expected to grow to five times its current size by the year 2025 and that the demand currently far exceeds the supply due to logistics issues as a result of the coronavirus situation, causing prices to remain high.

A sign of things to come? Latest CIPA numbers show camera sales seem to be recovering

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Whether or not you’ve been following the camera news sales over the last 18 months or so, it probably comes as not much of a surprise that camera sales have been way down. Sales weren’t looking great even before the planet was hit with a global pandemic which saw production go down around the world as well as demand.

But the latest figures from CIPA show that while we’re not back up to 2019 levels yet, the data so far for 2021 looks like the industry might be starting to make something of a recovery, with sales significantly higher than the same time last year over a four-month period leading up to July.

Second-hand market ditches DSLRs in favor of mirrorless

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Well, this is a surprise. It seems that the second-hand market is following suit with new purchases. According to used gear retailer KEH, who reported on their blog, mirrorless sales have overtaken DSLRs in the used market for December 2020. This is the first time that this has happened in the company’s history and they say the trend looks to continue for 2021.

KEH notes that DSLRs has been a huge part of their business and that they ruled their top 10 best selling cameras from 2010 to 2019. In 2020, that changed, when three mirrorless bodies entered that top 10 list with the charge being led by the Sony A6000.

Nikon to temporarily focus on mirrorless cameras after 80% drop in camera sales

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2020 has been tough on Nikon. The company faced multiple gear delays, layoffs, and company restructuring. The camera sales suffered as well, creating a colossal 17.1 billion yen loss in the Q1 of 2020. So, Nikon has decided to focus on mirrorless for the time being.

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