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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.

Canon wants to release 32 new RF mount lenses over the next four years

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Canon recently published its annual financial results and presentation for 2022. In it, Canon Chairman & CEO, Fujio Mitarai talks about the effect of the pandemic on sales and how they’ve been dealing with them. Despite the pandemic still putting pressure on sales, as a result of shutting down production facilities, parts shortages and logistical constraints, they managed to “significantly exceed” Canon’s pre-pandemic profit level in 2019.

He also talks about last year’s reorganisation that aided in this profit boost as well as where things go from here, including the potential release of 32 new lenses by 2016. This is extrapolated out based on the fact that Canon wants to “expand lens lineup at same pace” as previous years. In 2020, there were 18 RF lenses and in 2021 there were 26. 8 lenses per year for four years, is 32 lenses.

GoPro to live up to its name and take on “Pro” camera market with two new product types in 2022

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GoPro recently announced their Q4 2021 report and along with it, GoPro founder and CEO Nick Woodman announced that they want to produce more specialised cameras aimed towards the professional market. Now, this isn’t going to be as simple as splitting up the Hero into “White”, “Silver” and “Black” models like they used to. Instead, it seems like they might want to want to take on the likes of Sony’s RX0 II.

Despite facing another challenging year, Woodman said that GoPro generated a “record year-end cash balance of $539 million” and that 2021 revenue was $1.16 billion – a 30% increase over 2020, bringing the company back up to pre-pandemic levels. But they’re not stopping there, with a target of having four distinct product types by the end of 2022.

Nikon promises up to 8 new Z mount lenses despite $262 million loss

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Well, Nikon’s latest annual report is out and it shows a $262 million write off in losses. The report says that Nikon has been facing challenges from the declining demand for camera gear from professionals and hobbyists, increased competition, the global silicon shortage and the COVID-19 pandemic.

Despite this, Nikon will soon be releasing their new Z9 flagship mirrorless camera and according to Nikon president Toshikazu Umatate, they’ll be increasing their Z mount lens lineup from its current 22 up to “nearly 30”.

Nikon Q1 FY 2022 financial report finally shows an increase in camera sales and profit

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Well, it’s been a while, but Nikon’s Q1 FY2022 report, the first quarterly financial report for their 2022 fiscal year beginning April 1st, 2021 actually shows a profit – a significant increase on last year. The revenue shows 50 billion yen (~$457 million) and an operating profit of 9.2 billion yen (~$84 million). All may not be as it seems, though.

The report only covers the first quarter, running from April 1st to July 31st, 2021. Nikon says that the increase in revenue is partly due to the weaker yen and that some of their expenses have been deferred “to Q2 and beyond”. So, while the short term increase might be a nice morale boost – and Nikon has had a noticeable increase in sales – it comes with a sting in the tail.

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.

Canon’s end of year financial report drops hints about new EOS R cameras and RF lenses

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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.

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