As we all know, the coronavirus pandemic has been affecting many businesses, big and small, and camera companies are not an exception. In a recent notice, Nikon warned investors of “extraordinary losses” expected due to the current pandemic.
Canon has published the financial results of the first quarter of 2020, and as it was probably expected – they’re not good. The results show that the sales have dropped by 25% in the Q1 of 2020. Of course, there’s an obvious cause of such poor results: the coronavirus.
Canon has released its 2019 end of year financial results and presentation, in which Canon highlight how they’ve done over the last year, and also talks a little about what we can expect in the future. If you want to see the financial side of things you can click the links above, but what was particularly interesting, is Canon’s quite surprising focus on new specific new EOS R bodies and RF lenses.
Olympus hasn’t been doing quite well in terms of revenue. This started a rumor that the company is soon closing its camera business within less than a year, but it looks like it will remain just a rumor. No, Olympus cameras aren’t going anywhere, and the company itself has now officially confirmed it.
Rumor has it that Olympus could shut down its camera business. The latest financial results are not stellar, and some reports say that the company could close its camera division as soon as next year.
Kodak has reported its financial results for Q3 2019. They have announced that their film business has grown by 21% in the last quarter over the previous year. This looks very promising for Kodak’s future in film, although they report that overall profits are down, noting a $5 million loss on revenues of $315 million.
Canon did everything they could to fight the mirrorless advance before finally capitulating with the launch of the EOS R. It seems, though, that it might be a case of too little, too late. According to Canon’s Q2 2019 financial results, their Imaging System department has plummeted 64% compared to this time last year.
While the decline of camera sales is trending across all brands, this is a time when Canon is probably going to be hurting more than most. Canon did predict a big loss, although they remain outwardly optimistic about their future in the mirrorless market,
It looks like Canon’s not the only one hurting this year. Nikon has just published their financial report for this fiscal year, running from April 1, 208 until March 31, 2019. While the company as a whole seems to be on the up, they report a 17.9% reduction in revenue compared to the 2019 fiscal year with a drop in operating profit of 27%.
Well, this is quite the interesting turn of events. Nikon seems to have been struggling the last few years since Sony’s mirrorless domination began. Their latest annual financial report, however, paints a different story. Although overall income was down 4.3%, it shows a whopping 776% increase in profits over the previous 12 month period.