Sony Drinking Canon and Nikon’s Milkshakes in Japan

Bloomberg reports that Canon and Nikon’s failure thus far to enter the mirrorless camera market has allowed Sony to eat into their combined market share — at least in Japan:

Canon and Nikon’s combined share of the Japanese market [for interchangeable lens cameras] has fallen by 35 percent, while Sony’s share has doubled

“Mirrorless cameras are a threat,” said David Rubenstein, a Tokyo-based analyst […] “If the western geographies follow the same pattern as Asia, then it will be negative for Nikon and Canon.”

“In the long run, Canon and Nikon will have to enter the market,” said Hideki Yasuda, a Tokyo-based analyst […] “Still, it won’t be too late for them to enter the market after mirrorless cameras become a global trend.”

Although mirrorless cameras are becoming all the rage in Japan, its adoption outside the country is much slower. Canon still owns a 45% share of the global SLR market, while Nikon remains at 30%. Canon also earned $1.5 billion in profit from selling SLRs last year, four times the profit generated by its compact cameras. SLR cameras and lenses were also Nikon’s biggest moneymaker.

Canon Clinging to Mirrors Means Opportunity for Sony Cameras [Bloomberg]