Henry's, the largest photography retailer in Canada, has announced that it will shutter 7 of its 29 physical stores in a strategic restructuring designed to help it survive in a "post-pandemic world."
A week after announcing the closure of its camera factory in China due to the rise of smartphone cameras, Nikon has just announced that it's shuttering its sales operations in Brazil.
Nikon has been conspicuously silent since the Japanese camera giant suddenly cancelled their long-awaited Nikon DL line released a "recognition of extraordinary loss." But Nikon executives broke their silence yesterday in the Japanese press, revealing, among other things, what's next for Nikon's camera business.
Nikon dropped a couple of very troubling bombshells today. The first was a "Recognition of Extraordinary Loss" due to company-wide restructuring; the second was the cancellation of the much-delayed series of Nikon DL compact cameras announced in February of 2016.
Once a tech darling, GoPro has been struggling in 2016. In addition to less-than-stellar sales that have not matched forecasts, a class action lawsuit, and a massive drone recall, the company has now announced "restructuring" that will eliminate 200 full time positions and cut 15% of its workforce.
Last week, Nikon released its financial results for the last fiscal year (ending in March) and things aren’t looking good. The company missed financial forecasts yet again, closing at a three-year low that, it seems, has prompted Nikon to do some serious restructuring within the company.
When Sony unveiled its "One Sony" game plan back in March after posting billions in losses, the company highlighted digital photography as one of its three main pillars going forward. It was a bit of a surprise, then, when Sony announced today that it will soon be closing a large lens manufacturing factory in Japan as part of the restructuring efforts.