What Canon says and does is important to the camera industry because it is so dominant across large swathes of the sector. And as a publicly listed company, it is required to publish both its financial results and business strategy going forward. Canon recently updated its medium-term strategy, so where does it see itself in five years' time? In one word: dominant. More importantly, what does this say about the future for everyone else?
Ricoh is set to evaluate its many business segments and determine which it will withdraw from or attempt to sell as it aims to increase its return on investment in the 2023 fiscal year.
Meta is currently experiencing a combination of financial difficulties that, in its long history, it has never faced. Its Reality Labs division continues to lose billions of dollars at the same time Facebook reported its first-ever decline in revenue.
GNARBOX is no longer operated by the people who founded and ran it for the last several years. According to Tim Feess, the company's founder and former CEO, the original management team is no longer with the company and hasn't been since November of 2021.
Paypal has reportedly offered to buy the digital pinboard site Pinterest for $45 billion, which could bring more tie-ins to financial technology and e-commerce.
The attorney general's office of New York is preparing an insider-trading lawsuit against Eastman Kodak and its top executive which focuses on stock purchases that occurred before a deal with the Trump administration to finance a pharmaceutical venture during the Coronavirus pandemic.
Canon has upgraded its forecast for the rest of 2021 after it showed camera sales up 34% over the previous year's pandemic-blighted sales cycle. Despite the good news, the company reportedly added that the camera market is reaching the point of saturation.
If you pay any attention to the photography industry, it's hard to ignore the news of the financial struggle that Nikon has been dealing with since late last year. What were once rumors are now confirmed: the company isn't in a good place. But that said, Nikon is going to be fine... probably.
Nikon's worrisome financial situation has cascaded as a result of the deflated camera market caused by the fallout from COVID-19, and in an effort to recover from what is expected to be its worst financial year ever, Nikon plans to focus its efforts on mirrorless.
This past year has not been kind to any camera manufacturer, but Nikon is reportedly in "dire straits" as it had yet to financially recover from previous business decisions even before it was hit with the worst slump in camera sales in years thanks to the proliferation of COVID-19.
Nikon will cut more than 2,000 workers outside of Japan by March of 2022 as well as shift some of its production from its factory in the Miyagi province of Japan to Thailand. The changes come as the company grapples with the rise of smartphones and the effects of the coronavirus pandemic.
Nikon Corp. published two financial statements today. The first was a warning to investors—a "recognition of extraordinary losses" caused by the COVID-19 pandemic. The second was a revised FY2020 financial forecast that discloses the expected impact on profit and revenue for the fiscal year that ended March 31st.
When the COVID lockdowns hit, Raleigh-based wedding and portrait photographer Rebecca Faulk was able to keep generating some income by selling prints and rescheduling her photo shoots. That is, until her credit card processor decided to hold on to her funds...
Canon released its Q1 financial report earlier today, and while the impact of COVID-19 has been felt across all of its various businesses, the Imaging Business experienced the most brutal declines. Worse yet, Canon predicts that Q2 will be even more painful.
As the coronavirus pandemic brings the world economy to its knees, retail intelligence firm Stackline put together a report identifying the 100 fastest growing and 100 fastest declining industries based on e-commerce data from March. No surprise, the outlook is especially grim for cameras.
As the coronavirus has spread throughout the U.S., it has left a wake of economic turmoil. As of Wednesday, April 9th, over 16 million Americans have filed for unemployment. Like many other freelancers, photographers have seen an abrupt drop in income. For many, late March brought about cancellations in droves over the course of about a week.
As part of Japan's record $993 billion emergency COVID-19 stimulus package, the country has allocated a full $2.2 billion to help Japanese companies move their production out of China. The change could have a major influence on camera and lens makers.
Despite plenty of opinions out there saying that stills photography is dying and video is taking over, one metric at least seems to disagree: ad revenue. According to reports, the world's largest photo sharing site (Instagram) out-earned the world's largest video sharing platform (YouTube) by a lot in 2019.
Canon has released its financial results and presentation for the 2019 fiscal year, which included some interesting revelations about 2020. Despite believing the camera market will continue to shrink, Canon predicts 'stable demand' for professional cameras, and outright mentions plans to release an 'advanced' EOS R camera.
Adobe has released its Q4 financial results for the 2019 fiscal year, revealing that it has surpassed $11 billion in annual revenue for the first time in the company's history, and posting an incredible 24% growth year-over-year.
The back and forth between Olympus and the public continues, and the news is grim. After officially denying rumors of an imminent imaging business shut down, Olympus' CEO backtracked on some previous comments today, implying that the company's camera business may be up for sale.
Kodak released its Q3 revenue report yesterday, and while the company is reporting a year-over-year loss of $5 million on total revenues of $315 million, there's a very interesting bright spot in the finances: revenues for Kodak's film business grew by 21 percent year-over-year for Q1 through Q3.
In a recent interview with Japanese publication Nikkei, Nikon CEO Toshikazu Umatate admitted that imaging profits have fallen to one-sixth of their peak in 2012, but painted a more hopeful picture for the near future.
Nikkei published its 2018 digital camera market trends report yesterday, and the news is grim. While Canon, Fuji and Olympus all saw their global market share increase last year, total sales volume for digital cameras dropped by a whopping 22%.
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.
Adobe has received criticism ever since it first announced its Creative Cloud subscription program. But business has been booming since the launch, and that trend doesn't look like it's going to change anytime soon. In fact, it's on a clear upwards swing.
There are a lot more music photographers than there are music photography jobs — that’s just how it is in this corner of the industry. It's a port of entry for many hobbyist photographers, and the result is saturation of the market. A lot of budding photographers are willing to work for free, making the gigs that are out there even tougher to get.
If you're wondering just how big of a pain in the butt for Nikon the D600 sensor oil/dust issues have been, all you have to do is go back into our archives and read about the lawsuits and the outrage... or read the comments on the D610 announcement post.
On the off-chance that's not enough, however, we now have a dollar figure to add to the mix. $17.7 million. That's how much Nikon has allocated to put an end to the D600 issues and repair its damaged reputation.
Financial hard times from the slaughter of the compact camera market aren't limited to one company. And while we try to stay away from the gloom and doom news when possible, the news that Canon Australia's profits dropped almost 90 percent in 2013 compared to 2012 made us do a double take.
The story of GoPro's humble beginnings is an interesting one, and if you've not heard it we definitely suggest you click on this link and watch the video there before going on. But today's news isn't about those humble beginnings. It's about the meteoric heights to which the company has climbed.
Announced at market close yesterday, the former one-man surf camera operation and current action cam king has officially filed for a $100 million IPO.