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Smartphone effect: Nikon and Canon report declines in profits

Smartphone cameras are increasingly powerful and this has been reflected in sales from leading imaging companies, Canon and Nikon. The two companies filed tax reports recently and saw their numbers lack in the photography segment.

Canon released its first quarter numbers in late April and had a 23% annual drop in camera sales. The company expects the numbers to get even worse: In two years, sales of company-specific photo hardware are expected to fall by half.

Image: PCMag

Canon's declines in sales also reflected in the company's money: operating profit fell nearly 82% in a year: while the company closed the first quarter of 2018 at about $ 229.8 million, the amount raised in the first three years. months of that year was equivalent to $ 42 million.

According to the staff of Reuters, the manufacturer lowered its earnings expectations for 2019, not only because of smartphone cameras, but also because of the Chinese market, which is stagnant because of the trade war with the United States. Thus, the company should close the year with an income of $ 1.79 billion, about 20.9% less than previously forecast by the firm.

What about Nikon?

Nikon released its fiscal year 2019 report this week and has not seen as significant declines as its competitor, but has also seen its numbers decline. The company saw its image business shrink 17.9% in a year, and the drop took along 27% of the company's profit compared to the previous fiscal year's figures.

Image: Nikon

The numbers were below expectations from the camera maker, which ended fiscal 2018 with revenue of 296.1 billion yuan and operating income of 22 billion yuan, representing an annual drop of about 8 billion yuan, according to the report. with the report.

Both Nikon and Canon still expect the end-user professional camera market to continue to shrink because of smartphones, which will force companies to reinvent themselves in the coming years.

Analysis

In addition to the impressive zoom, handset has beautiful design and excellent performance.

Among the companies' bets are a greater focus on mirrorless and compact models, such as cameras that have an integrated printer and allow you to reveal the photo taken on the spot.

According to a CIPA report, camera sales have fallen by more than 30% since last year, so it is time for the big players in this market to take a letter up their sleeve to gain more space among consumers. Do you think manufacturers will be able to get around? Leave your opinion in the comments!

Via: Diy Photography, DP Review. [TagsToTranslate] canon