It's no secret that Nikon has been having a tough time financially -- a result of an over-reliance on its Imaging Division -- and has been implementing a medium-term strategy to help balance the books and foster long-term growth. Results from its Imaging Division suggest it is struggling and possibly caught in a perfect storm.
With 2021 well and truly over, those manufacturers that align their finances to the calendar year are now producing their financial reports. Canon's latest figures reveal strong and sustained performance, even during the pandemic, which is a result of its shift to mirrorless camera manufacture and facilitating the beginning of a new market dominance.
GoPro just announced that it's exiting the drone business and cutting 20% of its workforce, confirming earlier reports of major layoffs in the company's aerial division. The company's stock also plunged after it missed revenue estimates.
It looks like things are getting back on track for GoPro after the company lost over $370 million last year. But its second quarter report shows that GoPro has increased revenue by 34% year-on-year, pulling in $297 million.
Snap Inc., the parent company of image and video sharing app Snapchat, reported their quarterly financial results for the first time since going public on Wednesday, and it isn’t pretty. Snap’s user growth slowed down and revenue was below Wall Street expectations for the quarter.
Adobe took a lot of crap from the photo community for switching to the Creative Cloud subscription model, but all of that criticism seems to have been worth it. According to the company's recent earnings report, business is booming.
Sony's image sensor business has seen meteoric growth in recent times, but it seems that things are now cooling down. The company just reported its earnings for its latest quarter, and things aren't looking as rosy as they were before: Sony reports a "significant" decrease in image sensor sales.