Olympus' decision to put all its chips on the mirrorless market seems to be paying off, with the once-troubled company finally poised to register a profit next year after several quarters of losses.
With every passing year, the digital camera sales dataset offered by the Camera and Imaging Products Association (CIPA) grows more comprehensive. These records are made available to the public by this coalition of camera manufacturers which includes Nikon, Canon, Fujifilm, Sony, Sigma, Ricoh, Olympus, and dozens of other recognizable brands. Since 2002, they've been improving and increasing the scale of their database, which now separates digital cameras into fixed-lens, mirrorless and DSLR categories, and reports sales figures for different regions.
It sometimes seems that commentators are primarily interested in the CIPA data to prove just how far up a creek camera manufacturers are so far this decade. But these depressing pronouncements are just scratching the surface. Here's some other things the data shows:
Nikon's stock is down, and down bad, according to a report by Reuters. Although the report starts by saying that Nikon is currently up 0.8%, it continues on by revealing that:
Nikon is down 23.6 percent year-to-date and is the worst underperformer in the Nikkei this year, while the benchmark has rallied nearly 49 percent.
Leading international camera maker Canon cut its annual profit forecast Thursday, revealing that sales of interchangeable-lens cameras are slowing for the first time ever.
In the corporate world, diversification is a way of life. As multinational conglomerates like PepsiCo can tell you, spreading out business over multiple sectors protects a company from economic shocks to any one industry, and opens up access to more markets. A quick peek at SEC filings for some of the most prominent camera manufacturers reveals that many of them have made a strong effort to put this concept into practice, and you might be surprised at how small a role consumer photography plays in their annual sales.
It's been a long and depressing tunnel, but Kodak has finally reached the light at the end. Over a year and a half after declaring Chapter 11 Bankruptcy, the once-great camera giant officially reached the end of its financial troubles yesterday.
Kodak burned historic amounts of money in 2012, but is apparently still on track to leave bankruptcy sometime this year. The company released an annual report with performance figures and messages to investors. One of the glaring numbers in the statement was the fact that company lost $1.38 billion in 2012, almost double the amount it lost in 2011.
The Olympus scandal that rocked the business world last year was one of the biggest cases of …
It seems like Kodak is having a hard time figuring out how to getting its finances back in the black. Kodak has announced its 3rd quarter financial results, and the numbers aren't pretty -- they're downright ugly, actually. Despite raking in $1 billion over the three-month period ending in September (down 19% from the same period last year), the company still posted a net loss of $312 million (up from a loss of $222M during the same period last year).
Canon released its quarterly financial results yesterday, and things aren't looking so rosy based on Q3 2012. Revenue has fallen 13% to $10.3 billion from the same period last year, and profit dropped 42% to $908 million.
In the market for a new photo printer and not sure what to buy? Here's a tip: shelling out a little more dough on the printer itself could potentially lead to massive savings over time.
The reason is ink, sometimes called "black gold" (or... "colored gold"?). The general rule of thumb in the printer industry is: the cheaper the printer, the more expensive it is to keep it filled with ink.
It looks like the Olympus financial scandal is finally coming to an end. It has been nearly a year since it came to light that there were massive cases of fraud and coverups going on in the upper echelons of Olympus management. What started as a CEO's firing quickly spiraled into one of the biggest scandals to ever hit corporate Japan -- the country's equivalent of the US' Enron fiasco.
In the end, a number of the company's top executives were arrested after submitting their resignations. The trials for those former bigwigs are only now starting to get underway. Three of them, including former chairman Tsuyoshi Kikukawa (pictured above), pleaded guilty today to charges of falsifying accounts and covering up more than $1 billion in losses. The camera company itself also filed a guilty plea.
They say that when it rains it pours, and nowhere is that more evident than with the troubled, once-great photography company Kodak. After filing for bankruptcy, narrowing its focus to printers, and selling the Kodak Gallery for pennys on the dollar, we sort of hoped the company would start to see some rays of sunshine break through their perpetual cloud cover. Unfortunately, their quarter's earnings report is anything but sunny.