Nikon sells fewer cameras but manages to earn more according to tax results

In the past few days Nikon has announced some news regarding the Z fc Black Edition and NIKKOR Z 40mm f/2 (SE) camera which, in the first case, focuses on the color black while in the second on a design that recalls optics some time ago. However, the Japanese company has also released i tax results for the second quarter of 2023 (which does not follow the calendar year), with the fiscal year ending in March next year. The documents contain interesting information and some good news for the brand.

In the past we have written about how the market for cameras is no longer what it was a few years ago. Smartphones and a change in user activity have changed the market dramatically. CIPA data show in the period June-September 2022 a slightly positive trend compared to the same period of 2021, but not enough to think of a trend reversal. Canon has stated in the past that the market “hit rock bottom” and therefore there should be no further contractions. In the meantime, however, companies must continue to survive and to do so they must adjust their strategies, as it is trying to do Nikon.

Nikon manages to make more money by selling fewer cameras

Starting from the first quarter 2023 fiscal results, there seems to have been a turnaround on the part of the Japanese company. The data, released in the last few days, they have also been confirmed for the second quarter fiscal 2023 and for the semester. Focusing particularly on theImaging Products Business (which includes cameras and optics), positive numbers can be seen in the last three months.

Nikon reported, for example, that for the first half of the current fiscal year, profit reached 22.2 billion yen (an increase of 9.7 billion yen) while revenues marked a +28.4% touching 114.5 billion yen compared to the same period last year. These numbers are also thanks to the yen which is weaker than other currencies at the moment, but not only.

One of the reasons is to be found in the higher average purchase price for cameras And targets. This is because users are now mainly looking for mid-range or high-end models that allow for a higher income for the company. The same Nikon has already stated several times that it wants to focus on the higher-end segments for professionals and hobbyists. At the same time, the medium-low and low-end units (especially among DSLRs) have been reduced.

The documents state that in the Q2 2023 30,000 compact cameras, 170 cameras with interchangeable lenses and 270,000 lenses were sold. Numbers slightly down compared to Q1 2023 (to 40 thousand, 200 thousand and 340 thousand respectively). Impressive, but expected (as an example), the comparison with Q2 2019 where Nikon it sold 420,000 compact cameras, 500,000 cameras with interchangeable lenses and 760,000 lenses.

The forecast for thefiscal year 2023 of the company are still an improvement compared to those released in August. Revenues should touch i 230 billion yen while the profit will be of 33 billion yen for theImaging Products Business (previously they were 215 billion yen and 27 billion yen respectively). Overall, 700,000 cameras with interchangeable lenses, 1.25 million lenses and 100,000 compact cameras are expected to be sold for the fiscal year. These numbers represent, according to the company, 13%, 12.8% and 5% of the market.

In the question/answer session linked to the presentation of the tax results, we then read that Nikon has secured the necessary components to build the 700,000 units envisaged with a general situation that continues to improve. This should represent a further positive sign for the Japanese company.

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