Nikon is Searching for Ways to Grow as Point-and-Shoot Market Declines
July 8, 2013 10:31 AM
comment(s) - last by
Nikon eyes to move in the medical realm
Nikon is one of the biggest companies in the photography industry. The company produces cameras that fall into every price range imaginable from super expensive professional grade cameras to cheap point-and-shoot offerings selling for around $55. However, Nikon president Makoto Kimura recently told
in an interview that while the sales of smartphones are booming, sales of cameras are slumping.
“The number of people taking snapshots is exploding by use of smartphones that sold 750 million or so last year and are still growing,” Kimura said. “We’ve centralized our ideas around cameras but can change our approach to offer products to that bigger market.”
While Kimura didn't go into detail on Nikon's earnings, he did say that the company's Q1 earnings estimates were "fairly low" and that the official Q1 results would probably be close to predictions or "a little short." Nikon was previously predicting a 53% gain in net income for its fiscal year started on April 1.
Nikon predicts that the compact camera market will shrink 12% during the current financial year. However, the company believes that high-end models with changeable lenses will gain 9%. Kimura wouldn't get specific, but did say some things that seemed to indicate Nikon is considering going in a different direction.
“We want to create a product that will change the concept of cameras,” said Kimura. “It could be a non-camera consumer product.” Kimura declined to specify if the camera maker was looking into the smartphone market. Kimura did say that Nikon was considering an expansion into the production of medical devices with the goal of creating revenue in the medical realm within three years, areas where both Sony and Olympus have found success.
Competitor Sony also
acknowledged last yea
r that the point-and-shoot market is shrinking as smartphones continue to explode in popularity.
This article is over a month old, voting and posting comments is disabled
RE: If you can't beat 'em join 'em.
7/8/2013 11:55:48 AM
There's still a market for point & shoot cameras, it's mainly the low end of the point & shoot market that's disappearing.
Even the best cell phone cameras lack the optical zoom, optical image stabilization and low light performance of a decent point and shoot.
Even my 6 year old, 7 megapixel cannon P&S takes better pictures than a cell phone in most cases.
As for my current Sony P&S travel zoom, cell phone pictures and video are not even close.
"My sex life is pretty good" -- Steve Jobs' random musings during the 2010 D8 conference
Sony Outs Three New Point-and-Shoot Cameras, Acknowledges Segment is Dying
January 30, 2012, 10:11 AM
Microsoft Announces the First Steps in Its "Universal Apps" Program
April 15, 2014, 7:59 PM
Amazon Fire Phone Prototype Leaks, Will Feature 3D Camera Interface
April 15, 2014, 1:33 PM
Toshiba's $1,500 Satellite P55t Notebook Supports 4K Resolution
April 15, 2014, 10:27 AM
Xbox One April Update Now Available
April 15, 2014, 9:13 AM
Windows Phone 8.1 Developer Preview Goes Live
April 14, 2014, 4:46 PM
Report: Eight More Nokia Microsoft Phones Waiting in the Wings
April 14, 2014, 2:22 PM
Most Popular Articles
Cities to Carpoolers: Sharing Your Car is Illegal, We Will Seize Your Cars
April 4, 2014, 9:17 PM
Taiwan's AOU Claims to Have World's Highest-Res. OLED Smartphone Display
April 11, 2014, 1:44 PM
Navy Prepares for Historic First Live Test of a Rail Gun at Sea in 2016
April 9, 2014, 2:06 PM
It's Very Likely Neanderthals and Humans Had Sex, Produced Offspring
April 10, 2014, 8:40 PM
Cops at Historically Troubled LAPD are Sabotaging Digital Recording Devices
April 9, 2014, 11:10 PM
Latest Blog Posts
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
Global Cyber Espionage Concerns Reveal Growing Cyber Armies
Nov 29, 2013, 11:04 AM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information