Dear Getty Images: I quit.
I just sent Getty Images the email above, which, I think, is how I terminate my relationship with them. Hopefully. I’m not 100% sure, but I can’t seem to figure out any way to do it online, so I’m hoping that email works.
Last week, Canon reported its latest quarter’s financial results, which included some big double-digit drops in revenue and profit. Now it’s Nikon’s turn to show the world how it’s finances are doing. The company reported its latest quarterly results yesterday, and the numbers are decent.
Japanese electronic industry analysis company BCN has published a new report (in Japanese) on the current landscape of the mirrorless camera industry. Using data gleaned from retailers and manufacturers over in Japan, it reports that three companies — Olympus, Sony, and Panasonic — account for nearly 70% of mirrorless camera sales in Japan. Nikon and Canon, both relatively late to the mirrorless game, are fourth and fifth (respectively), with a combined share of 22%.
Businessweek writes that Canon has lowered its sales estimates across all its camera lines, saying that smartphones are drinking its milkshake — and it’s not just Canon:
Global camera sales are expected to fall 4.3 percent this year to 115.2 million units, according to market researcher IHS. Industrywide camera shipments fell 25 percent in August from a year earlier, according to the Camera & Imaging Products Association in Tokyo.
By comparison, global sales of smartphones [...] rose 32 percent to 146.1 million units in the second quarter, according to market researcher Strategy Analytics.
“We lowered our camera sales projection because of slower economic growth and an increasing use of smartphones that’s eroding demand,” [Canon] Chief Financial Officer Toshizo Tanaka told reporters in Tokyo today.
This year, compact cameras are projected to have the worst demand since 2009. Who would have thought that digital cameras would be struggling as digital photography booms?
Canon Reduces Forecasts as Smartphones Start Replacing Cameras [Businessweek]
Update: Canon has announced its latest quarterly results. Revenue is down 13% and profit is down 42%.
Image credit: Fotógrafo / Photographer by ajgelado
Over the last year or so, as camera phones and “phoneography” have taken off, many have feared and/or expected the death of the digital camera. In many ways this fear has come to fruition — point-and-shoot cameras are becoming a thing of the past — but for another segment of the market, the advent of the camera phone has benefitted companies and consumers alike. Read more…
Canon’s president Tsuneji Uchida announced today that he will be stepping down to pave way for a younger management team as the company fell short of expectations for the second straight year. Canon’s stock price dropped 19% last year while Nikon’s grew 4%. The total number of Canon cameras sold dropped 4% last year, likely a result of both a shift away from consumer cameras and the shortages caused by Japan’s earthquake and Thailand’s flooding. However, DSLR sales are going strong:
Although Canon was affected by supply shortages caused by the quake and flooding, efforts to ramp up production and boost sales in response to robust demand resulted in significant increases in year-on-year sales volumes for such digital cameras as the competitively priced EOS Digital Rebel T3i/T2i/T3, along with the EOS 5D Mark II and the new EOS 60D advanced-amateur models.
Another big story in the camera world this past week was the passing of Sigma founder Michihiro Yamaki, who started the company in 1961 at the age of 27 by developing the first rear lens converter. He went on to lead the company for over 50 years, turning it into the largest third-party lens maker in the world. Yamaki passed away on January 18 at the age of 78 after a battle with liver cancer.
(via Amateur Photographer and PopPhoto)
Image credit: Broken filter! by -AX- … off until may!
After sticking too long to film technology, it looks like Leica is finally getting the digital game figured out. Yesterday it announced a record profit of €248.9 million for the latest fiscal year, a significant increase from the €158.2 million it earned the previous year.
The positive development is mainly due to the continuing strong demand for the Leica M system, the professional S system, the compact cameras and the Leica sport optics products.
They will also be paying dividends to shareholders — the first time the company has done so since 1997!
(via Foto Actualidad via Leica Rumors)
Image credit: Leica M9: Logo by bfishadow