Nikon’s financial results for the last fiscal year are out

  • Nikon reported a net loss of Y12.62 billion, compared to a year-earlier profit of Y28.06 billion.
  • Operating loss of Y13.85 billion against a profit of Y48.18 billion a year earlier.
  • Sales fell 11% to Y785.50 billion from Y879.72 billion.
  • Nikon's digital camera business picked up, however, contributing to a 30% increase in operating profit from the company's visual product division.
  • The company expects a sharp recovery in the current fiscal year, projecting a net profit of Y30 billion on sales of Y880 billion.

 Nikon Corp. (7731.TO)
    Year Ended March 31 

Group                   2010          2009
Revenue              Y785.50 bln   Y879.72 bln
Operating Profit     (13.85) bln     48.18 bln
Pretax Profit        (15.33) bln     47.69 bln
Net Profit           (12.62) bln     28.06 bln
Per share
  Earnings           (31.82)         70.76
  Diluted earnings       N/A         67.91
   Figures in parentheses are losses.
    Nikon Corp. also released the following forecasts:
GROUP              1st Half To   Year Ending
                      Sep 2010      Mar 2011
Revenue            Y395.00 bln   Y880.00 bln
Operating Profit      7.50 bln     52.00 bln
Pretax Profit         7.00 bln     50.00 bln
Net Profit            4.00 bln     30.00 bln
Per share
  Earnings           10.09         75.68 

   Results are based on Japanese accounting standards.

Source: WSJ. Detailed financial information can be found on Nikon Investor Relations.

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  • mfotom


  • PHB

    The chip business is cyclic and probably hit them due to the recession.

    Impressive to see the imaging sales surge though.

    • Imaging sales did not “surge.” They were lower than last year by 5%.

      • iamlucky13

        That sounds believable. A lot of companies saw declining sales but increasing profits because they cut costs so aggressively. However, a big part of this was typically depletion of inventories and putting off making purchases, so many businesses that appear to be doing well may have these costs show back up later on as they restock inventories or buy capital equipment they’d been avoiding.

        The upside for Nikon is that there’s likely to be a shadow backlog of industrial customers among those that had been delaying making orders and will come back with make-up orders once they’re more confident of their financial situations.

        The downside for Nikon is that they likely are also among those who reduced inventories and delayed their capital equipment purchases. I won’t make predictions, but I wouldn’t be surprised if next year sees increased revenues, but decreased profit.

        • Nikon releases information for individual units. Thus, we can say with confidence that Nikon expects the semiconductor equipment business to be profitable in the current year, with increased sales (and reduced costs due to one heck of a lot of consolidation within the group). But the things you note really don’t impact Imaging much.

          The Imaging numbers struck me as optimistic. Of the last four DSLRs Nikon has released, only the D3s has been exceedingly well received, and it’s a low unit volume product (the D3000, D5000, and D300s are the other three). They need a couple of high-volume successes to meet their numbers (e.g. D4000, D90 replacement). The industry as a whole predicts 30% growth in DSLRs/EVILs. This, too, seems optimistic to me, but it’s just possible if we have enough action in the EVIL side. My prediction on EVILs is that they’re a short-term trend, though.

  • Gorgonzola

    it has begun…. No D700 replacement, no real D300 replacement, no EVIL, expensive D3 range….hence a hammering blow… I wonder how Canon fairs… not that it matters to be honest….

    • fork()

      I can’t believe how people smash Nikon for not releasing a D700 replacement “yesterday”. Just look at the statistics: Nikon replaces a DSLR after two years. The d700 came out ~july 2008. It’s only May 2010, and people have been crying like babies for months already. Grow up and learn from history.

      • Anonymous

        fork() you don’t get it do you? the D700 is outsold by the Canon 5DII by 5 to 1. The D700 is not a competition to the 5DII even though we know the 5DII has better resolution and Video and in all other aspects the D700 is better.

        You can go down the list and see that 80% of the current Nikon products are outdated. Nikon milked too long that fu_ kn’ 12MP sensor.

        • Maybe if you read fork’s comments, you might understand. There’s a cyclical release cycle and Nikon most likely isn’t going to deviate from that *especially* in an economy like the current one (ie- bad). R&D costs money. Companies like this budget far in advance. Large boats take a long time to turn. Think of it that way. Just because *you* want more than 12MP doesn’t mean Nikon is going to deviate from their long term plan to make you happy. Look at the history of releases and be patient. If you can’t be patient knowing full well what the release cycle most likely will be, then perhaps you should go buy a mkII if that’s what scratches your itch.

          • Anonymous

            Fried Toast, just answer this question. What new product is coming from Nikon in the next 30 days? Fuckin’ nothing! Then how on earth does nikon want to keep its market share when they have no new products?

          • Their imaging division did great in the past 9 months!! They must be doing something right.

          • Jose

            Fried Toast: You are right, It Is can not believed, meantime much of us are waiting patient the new nikon`s releases, less than 10 bloggers insist in the weakness of nikon because they don´t have D700 replacement or real d300 replacement. If we have opinions, well supported or not, regarding the advantage of nikon products they tell us nikon fan. I start to think that the really fans are they but Canon fans.

          • Fried Toast: Ditto!

            Anonymous: If you think Nikon needs to release a new product every month in order to be competitive, then you are right to keep your name anonymous—if your employer found out that it was you spouting such idiocies, no doubt he’d find a way to can your long crack.

        • Chris P

          Anonymous, did you actually read bullet point 5 of the summary of the results? It clearly states that Nikon’s digital camera business ‘picked up’ with increased profits, the losses incurred must therefore have been due to non camera related business.

          • Connect the dots people. Income was down 5% in Imaging. Unit volume was up ~12%. Profit was up 24%. Now how do those three things happen in conjunction? You reduce costs to manufacture and sell items. Considerably. There’s a reason why Nikon uses the same sensor across so many models and does so for as long as they can. Given that they said they need to FURTHER restrain costs, I don’t see how they’d do that using different sensors for different models ala Canon.

          • Anonymous

            Thom, also not just production cost reduction but Nikon cut inventory for big time. Now you have to line up and wait for nikon stuff because more frequently is out of stock.

        • Anonymous – I personally love the 12mp sensor. It’s a great tool, and useful to me in almost any situation I find myself in. The truth is that I don’t need the 24mp resolution. If I did, I’d find a way to afford it. They haven’t milked anything. They work in a very methodical manner, and I commend Nikon all the more for it.

          I liken the bashers on this board to foreigners who come to America for the opportunity, then promptly criticize us for doing things differently than in their native country—things like prayer in school. If you don’t like the way things are done around here, then go somewhere else.

          We all love a good, reasoned debate. And healthy criticism is a valuable addition to any group. But whining because a large multi-national corporation isn’t doing what would serve you above the rest is just childish and immature. I’m always baffled at how many people fail to realize that Nikon doesn’t keep a magic wand, a genie in a bottle, or a 30,000 acre orchard of money trees. They are a business, and why is it not their right to actually try to make a profit? Product cycles, tech. dev., and marketing all play into their bottom line.

          If you are here because you like the products, but don’t like the philosophies (or vice-versa) then you’re either ignorant or manipulative. Either way, you’re not going to be satisfied, so in reality there is no solution for you.

          Man, if you don’t like the philosophies by which the company operates, then employ your God-given right of agency and leave. The only one keeping you here in your misery is you, friend.

          • Anonymous

            Ron, you made one wrong assumption. You think that you’re correct. The problem is that we are different with different needs and one doesn’t always fit. The main issue here is that Nikon does not offer variety but they claim the opposite.

            The comments about the country. Well, it has nothing to do with photography. Remember, 95% of your car manufacturers got fucked up because they shared exactly the faulty phylosophy you just demonstrated. They knew exactly what customers needed. See the results (GM, Ford, Chysler etc.)

            Ron, are you here some kind of local “guard” of the mighty Nikon? I mean, you like arguments as you said but until everyone agrees with you. Just read your comments. Can you imagine that some people are actually genuinely critical of Nikon? If Nikon would listen perhaps they can even learn.

          • Mauricio

            Uh? Prayer in School? In the US? Must not be a government run school.

          • Dude, Anonymous—you’re whining. You’re not arguing, you’re complaining about things that will only change when the time is right, and not a second sooner. So if you want something else, stop whining and shop somewhere else. Claiming that Nikon is doomed or failing or evil because they don’t follow YOUR PERSONAL GAME PLAN is just plain stupid. Until you can run a multi-billion dollar per year company as WELL as Nikon, it might behoove you to chill out a bit.

            No amount of bitching is going to get you what you want. Nikon has a 24mp body out already. Yet apparently it doesn’t seem to satisfy your needs. Feel free to complain all you want, but don’t be surprised when others on this board make fun of you, ignore you, or contradict you intentionally. That is the consequence to your whining about things that are out of your control and pointless to piss on about.

          • PHB

            Ron, the casual anti-imigrant bigotry is really out of line here.

            The constitutional position in the US is that forced prayer in public schools is not legal. That was the express intention of Benjamin Franklin’s faction in the constitutional convention.

            Opposition to the constitutional position comes almost exclusively from the Southern states.

          • Excuse me, PHB? Anti-imigrant [sic] bigotry? Who said I was anti-immigrant? My family is immigrant, as is yours. I take no issue with legal immigrants, nor would I be right to. Your assumption is way off base.

            Forced prayer in school? Who said forced? No, it’s not the forced prayer I’m talking about. It’s any prayer at all. My point is not even about prayer, but about common practices that we as Americans have long had, and which some foreigners take issue with. They can’t accept the differences from their own country or beliefs. And yet they left their own country because something just wasn’t working for them there.

            If you come to America, learn to get along with the culture, lifestyle, and principles by which we live day to day. Else you can choose another place to live. The U.S. is a largely religious, Christian nation. You can be Muslim, Jewish, Atheist, Agnostic, Buddhist, or otherwise—just be prepared to see a whole lot of Christianity while you’re here. If you don’t like that, don’t move here. How is that not simple, honest, and completely common sense?

            Likewise, if you want to spend time hanging around Nikon shooters online, then learn to accept the realities of the camp you’ve chosen. Otherwise you’re simply trolling and whining, and people are going to know you’re full of it. I don’t understand why this is a difficult concept. I don’t go over to Canon websites and complain about how bad Canon sucks. I am here because I deeply appreciate Nikon as a company, I believe in their philosophies, and I get tremendous benefit from their products. If that offends you, then you are welcome to leave. But I will not shut up.

          • Anonymous

            For hobbyists 12mp is enough but people like me loosing money. I’m selling photos and prices are depending on size-resolution. With 5Dii I earn appx. 15% more compared to my D3 (that personally I prefer to 5D). And I boycott D3x.

          • Anonymous –

            Ok, then. You have your choices. For instance, you can earn less (according to you) by using the camera you prefer. Or you can earn more (again, by your word) by using what you deem the inferior machine. Or you can pony up and end your personal boycott against the D3x.

            You do have choices, and you are free to make them however you like. But complaining to us because you aren’t willing to be decisive seems a bit uncouth to me. I can see a few other possible options you may not have considered.

            For instance, I know the D3/D3s/D700 sharpness tests put them about square with the 5DMii when up-ressed. I’ve certainly seen that in my own use of these systems. I’ve heard stories from a few highly successful stock photographers where they have gotten some great images from point and shoot cameras or DSLR’s which sit below the MP threshold for their stock agency. One of them was Getty. In that case, they simply pasted the enlarged photograph into a higher res image file, making it look like it was shot with a much more sophisticated camera. For instance, dropping a D3s image into a D3x or 5dMii file. That’s another choice you have. After all, it’s the image that matters, not the camera it was shot with. If it meets the client’s needs, does it matter what system was used?

            You can also work to educate your clientele that there are benefits to your setup (Nikon) which the other systems don’t offer in image quality, sharpness, noise, etc.

            In the end, however, you have choices, and you alone must make them.

            Oh, and I’m not a hobbyist, but a full time pro shooter. I use 12mp just fine, and have never once had a complaint. I realize there are some agencies/magazines which think they know better than the photog. I suppose that’s another choice you have-whether or not you will work with such clients. Certainly there are plenty of clients who are more than happy with a lowly D3s image.

            Happy shooting!

          • PHB


            My point was that the attitude you expressed was both patently false and intellectually lazy. It is very easy to sit back and be told what to think by the not so covert racists and anti-semites of Fox News. And if you can’t spot the fact Glenn Beck is an anti-semite then you haven’t been watching.

            You raised the prayer in schools issue. As it happens the opposition to prayer in schools originally came almost exclusively from the white protestant north east where the churches have historically worried that establishment of the church would corrupt the church. The reason that so many of the founders were freemasons was that they, like many of the leading intellectuals of their generation believed that the Roman Empire had corrupted the Roman Catholic Church.

            Attributing these ideas to immigrants is completely false, especially since the ‘immigrants’ currently being targeted with racist laws as in Arizona are not white immigrants from Northern Europe like myself, but anyone with a brownish skin who speaks Spanish regardless of whether their family has lived for ten years or a hundred.

            If you express racist sentiments in public then expect to be called out on them.

        • Where on earth do you get statistics like the d700 being outsold 5:1 by the 5dmkii? And even if it were, I wouldn’t trade five 5dmkii’s for my D700. Unless I could sell them and buy a couple D700’s.

          Seriously, what’s to complain about? Nikon has a kick ass product. Better than the competition in my opinion. And we know they’re coming out with even better stuff. This is all good news as far as I’m concerned. Increased sales number for the imaging dept only means a bigger budget over the next fiscal year. Sounds good to me.

          • Jose

            Anonymous: Again I respect specially your position because i never saw an insult from you to other blogger who though diferent than you, But if you review must of this comments, you will see a mayority who did not care about 12 MP Camera at this moment. This is not mean that we won´t buy new technoilogies if we really need this, but i wont up date my nikon d300 for 3 o 6 more MP because I won´t get noticiable improve in my pictures.

      • Gorgonzola

        just look at that faaacee…LOOOOL

      • “…look at the statistics: Nikon replaces a DSLR after two years. The d700 came out ~july 2008. It’s only May 2010, and people have been crying like babies for months already. Grow up and learn from history.”

        Amen, Fork.

        People, it’s like you’re trying to bend thick steel with your bare hands. It ain’t going to happen, and you look like immense fools for even the attempt.

        • Greenwood_Geoff

          It does keep some of us from jumping brands though. ;- )

        • preston

          I wish you hadn’t revealed your opinions about religion or immigrants. I had assumed from your body of posts here that you were a thoughtful and understanding person, but I guess that trait was limited to photography for you. I completely agree with your and Fork’s comment about the release cycle, but man are we in different worlds in other matters.

          Happy shooting though!

    • Richard

      Canon’s financials were released last week, although their fiscal year is not the same as Nikon’s. They are doing OK, all things considered.

  • The invisible man

    Nikon, listen, I can help you, make me a D900 + 300mm f/4 VR + 18mm f/2.8 and I’ll give you ALL MY MONEY (plus the money I don’t have yet).
    Do we have a deal ?

    • disco

      i’ll give you my money if nikon listens to you

    • Yeah, make new/updated lenses and we will buy them – we keep money aside just for this – no one keeps buying new lenses, but many would buy same updated ones since sooo much time has passed since some (semi-pro/pro) lenses haven’t been updated, both tele as wide primes.

  • The notes to the accounts mentioned solid sales of D3s.

    • Anonymous

      David, and nothing else. BTW 95% of the D3s sales were replacement. This means they sold to prior D3 owners.

      • Zoetmb

        How do you know that 95% of D3s sales were replacement? In fact, how would anyone know that information? When I buy a camera, I don’t tell anyone what I already have and whether it’s a replacement. They don’t even know if I’m a first-time Nikon buyer or former Canon (or whatever) user unless they take a survey.

        • Anonymous

          have you heard about market research? using a certain sample size can be very accurate.

          • ArtTwisted

            Please post this research information then, if not then your just pulling numbers out of your ass.

          • amunk

            I smell made up statistics

          • amunk

            BTW it baffles me when people make up statistics to prove they are right….sooo pathetic!

          • You can get by with very small sample sizes IF (and that’s a very big IF) you correctly n sample the correct population. The reason we KNOW that your number is made up is that there is no way that you know what the D3s population is. Not even Nikon knows, because they don’t have registration information for very much of the users (they don’t have mine, for instance).

  • Hansum

    The small industrious and wise japanese engineers are probably working around the clock to make something good for us. They better be…….

    • They already have. It’s called the D3, D3s, D3x, D700, D300s, D90, D5000, SB-800, SB-900, 70-200 VRII etc, etc, etc.

  • Anonymous

    WTF? No sign of new products and Nikon expects to keep its marketshare? What are these a-hole Nikon execs smoking?

    Geez, this financial report has more bs than reality when it comes to their future expectations.

    • dave

      Their financial year just ended. And they are predicting a sharp increase in sales for the new fiscal year, that implies they plan on introducing camera models they expect to drive those sales. Compare that to last year when they expected sales to stay relatively flat. We got s models last year. If they expect a sharp turnaround in their financial fortune, the some big things must be coming to drive that turnaround.

    • Anon: Read the reports. They stated right in their outlook that they are planning on “Development acceleration of new generation digital cameras.” Before you start throwing around statistical lies and nonsense assumptions, read a little more and rant a little less.

      • zzddrr

        This means that there is nothing ready to be released. As I said before this financial report is bs! I can say anytime that “oh yes we’ll have great products…” Aha, but the question is when?

        • zzddrr

          A month or two ago (Feb Nikon financial report) I mentioned that the worrying reading I took was that there was no clear indication of the direction Nikon will take. I think they have some serious issues with their product releases and that is why they say “they will accelerate the development.” This means they have nothing. Now reading the two reports makes sense.

          Also, I want to point out and they did not mention in any their reports the mistakes they made with the inventory levels. This explains why they have so many quality related issues. That is because every piece they make they have to sell and no time for proper testing/quality control

  • Tim

    It would help if they released the damned D700 update. I bet there is a LOT of people who are not buying the “prosumer” class just because of the “im gonna go nuts if they release it next month” mentality.

    These people (i know a couple) need an update, but not so badly (like tomorrow). So we are working on older models in favor of “its gonna be soon” and “the wait might pay off”. So please Nikon! Work HARD!

    • Anonymous

      If your friends need an update so badly them they have been putting it off far too long to begin with and this is their fault not Nikons. There was plenty of opportunity…the release of the d300 and d700 was all the reason to upgrade. I assume that the d700 replacement is not going to be as much of a leap as those.

    • Greenwood_Geoff

      That is why I am spinning my wheels. They would have to drop the D700 to almost half price before I would even consider buying one at this time. I would rather wait a little longer for the newer tech. /shrugs

      • Half the price? A wee bit greedy aren’t we? Nothing like wanting the world on a platter, eh!

  • I bought a D700 and a 24mm F1.4 a few weeks ago. I think this will help Nikon to recover :). I would never wait for months for a successor of the D700 just because of some new fancy features and a little increased ISO performance. It cannot be better than the D3s and that wasn’t worth it for me. Come on folks, do you want to take pictures or do you just want always the newest and coolest stuff?

    • Who takes pictures around here? We’re in gadget freak land, sir. Can only take good pictures if you have a brand, spiffy new camera that has more MP than the competition. Anything less and it’s not worth getting out of bed for.

      • Anonymous

        Fried Toast, you came to the wrong place if you want to take pictures! This is a website go somewhere for pictures.

      • Richard

        Use FILM…it has more MP than any offering yet produced by Nikon. 😉

        • R!

          That’s why I bought myself an F6 and a 28.f 1.4 last month, I dont want that 12 mpxl fullframe,I ll wait.
          By the way I have the 16 35 vr and It sucks on Film!!!! but on DSLR Its the sh…. specially on D90 or D300 very nice, no distortion a la FX and IF you Panoramik IT with 2 or 3 shots you get a D3X like very nice pictures with high resolution.
          I don’t know about the 25 f1.4 but with the errors of focussing I m just goiin 2 wait a litle.
          What I know is that you need to be very patient or have more than 10 lenses like me ,to stay a Nikon fidel this is Sad because the reason is only because of senior executives who wants to make money with point and shoot and I dont know what because D3000 is not going to be saling well so executives are just dumb fuck makin errors that consumers are paying now, just like the economic crisis and market cracks!!! peace I ‘m out!!………

          Admin, still good job because without your Site we all be like Canon loosers buying plastic stuffs that makes pictures like photoshop!!!!

      • R!

        FRIED TOAST is right publishers want the last camera photos in magazines,I just bought the GEO of this month , a nice magazine that use to have good picture all over, the pictures used to be Film and Nikon beautifull colors and all that…Now Its just full of noisy Canon pictures unfocussed with poor photoshop works a la D Lachapelle(who is good but evrybody coppying since 4 years);there is like some good pictures, with Leica I think ,of the Papoos,but Its all polarized and under exposed ,(a la Canon again).So I guess Nikon already lost the trust of editors, even If pictures are lower level like in the 80’s with poor sharpness of the background.
        Nikon just killed the Nikon shooters credibility by staying behind in pxls, and I m not talkin about video because ,I have a GH1 and I don’t care much about it ,Its another job ,but what the fuck Nikon’s doing, I could killed a Nikon executive If I cross one on my way , for Real………

        • It’s not a good thing if I’m being sarcastic and end up being “right.”

  • Anonymous

    This financial report clearly an example for the fact that 12MP does not sell

    • Joe Fish

      Yeah !!

      • Mikils

        So much so that Digital cameras sales (i quote) were ”contributing to a 30% increase in operating profit from the company’s visual product division.”. Thus Nikon customer, clearly scorning the rotten12 MP sensor, punished Nikon stopping buying all Nikon products BUT cameras. Come on, go somewhere else and get a life!

        • Anonymous

          Mikils, you may want to see that Nikon’s revenue actually dropped but volumes were up a bit. So, if you do not know how to read financials then keep your comments low.

        • fork()

          Mikils: I misread your name as some kind of Canon-land MkIIs model number. Maybe I should spend less time on NR… 🙂

          • Mikils

            Anonymous; why should I keep my comments low, while all you do is to feel free to quote wondrous statistics which you refrain from produce, even after having been asked to, and bashing everybody else’s posts?

            Fork(); it’s the white on black fine prints, don’t worry!

      • i dont give a shit on 16 18 20 megapixels.
        12 is enough (especially on dx)
        nikon has to release some lenses and not some crappy shit like a 18-xxx
        or someting. they gotta release some dx-primes, something like the 35 1,8 for example: 70mm f1,8 (105mm) or 90mm f2 (135mm) with nice prices under 500 $
        who is going to buy a fucking 200-400 for 7 grands?
        what the hell is going on with nikon?

        • Gorgonzola

          amen somebody has some brains here

        • Canon Fangirly

          Yep, new lenses would really make sense. I know at least 10 people who would immediately buy an 800 mm f/4 VR, but where is it?

        • ArtTwisted

          A 90F2 dx would be very close in size and price as the 135 F2 or 85 1.4 so it will never happen. Only small lenses get the DX treatment, anything over a certain focal lenght and it really doesent matter anymore. I hope we get a wide and fast DX prime but other then that go buy the 85 1.4 or 1.8 or even the DC f2 lenses.

  • Steve

    Keep in mind that, looking at the finicals, compact cameras outsell DSLRs by approx 3 to 1. A new D700 wouldn’t have helped. Plus, my guess is they sell quite a few more D3000 and 5000s than ANY flavor of pro/sumer DSLR.

    All the “They’re doing bad because they won’t replace a camera that’s less than 2 years old” screaming has got to have all the bean counters at Nikon just shaking their heads and laughing.

    The D700 style camera market has got to be pretty low on the list.

    • u r right!

    • preston

      yep. this is the last YEAR for sales, so the people claiming that not releasing a D700 update in the 2 months AFTER the fiscal year ended contributed to the earnings for that year are really ignoring reality.

  • Anonymous

    Nikon is running a business. Perhaps we think we are a bigger group of people than we actually are?Perhaps Nikon doesn’t care about “us”?

    Here is a thought… since almost everyone here seems to be such an expert then go work for Nikon and change it. I am sure they would hire you with your experience…. or better yet… start your own camera company and put them out of business.

    • 🙂

    • twoomy

      We are consumers talking about what we want and how we’re dying for Nikon to deliver “what we want.” Some comments may be off-base, but if you have a lot of people complaining that Nikon is missing the mark on something, there may actually be some truth to it!

      Just remember that companies like Chrysler and Atari were once big and mighty and thought they could deliver whatever they wanted whenever they wanted without really listening to their customers. Now look at them. The critics might not have been experts, but they were pretty close to the mark.

  • Paul M

    boring boring boring Nikon news.I think I will take my new camera purchase money and upgrade my computer and monitor instead.I will stick with my tired beat up long in the tooth D200.Maybe next year I will buy some Nikon products!

    • If the D300/D700/D3(x/s) weren’t reason enough to upgrade from the 200, then why is sticking w/ it a problem? Sounds like a good plan to me. Nothing to be ashamed of and not a bad idea at all.

  • bob

    I think they can beat Canon, if they emphasize on consumer and prosumer DSLRs more (professionals won’t stray)

    …..a d90 replacement with 16mp,weather sealed,6 fps, articulated screen(like Panasonic GH1),better audio(inbuilt stereo with dolby, external mic with control) and better video(1080p, 24/30/50/60p,high mbps, autofocus,live HD out)….will kill 7d and upcoming 60d.

    same audio / video up-gradation to the professional series.

    a d5000 improvement on the above lines will kill the 550d.

    in the P&S segment play the megapixel game (with bigger sensors& more innovative features) with canon.

    step into professional video , RED way.

    next 2 years…… canon is out.


    • M

      Why don’t you work at Nikon?
      I’d switch to nikon anyday for that D90 replacement.

      =[ .

    • Meh

      LOL in 2 years Nikon will go bankrupt stupid.

    • ArtTwisted

      yes please, I wish my D90 was wether sealed and had better video. I would still rather just buy a d700 sensor in a wether sealed d90 body. Common nikon, ill pay 3 grand for that day one, throw in a new 50 1.2 (idc if its auto focus just make a new coated one so i feel like im all high tech and stuff 😛 ) and im good to go.

    • Mauricio

      Canon is out? Right. They will be gone, *poof,* like magic.

  • twoomy

    As others have already said, if Nikon would finally release that D700x/D800/D900 camera and a good new walk-around lens, they would have already had my money!

    Instead, I have given my money to Dell, HP, and Sony for various other camera-related upgrades. It’s your loss Nikon! If you don’t release the stuff that we want, the money flows elsewhere!

  • blurb

    I was fed up, but now have a new look on it. Maybe its a clever stratedgy :
    so many products come out : sony with HD & interchangeable lenses camcorder ,evil, micro 43, samsung nx, etc… what should we buy now ? & tomorrow ? … Its not even more if you just switch from a body to another, no switch whole system, again & again. This is too costy for the lambda customer & indie filmmaker. If Nikon waits & comes out in a few months, with THE Nikon evil 24MP FF Evil & a smaller 18 MP APS-version, they will beat the asses of the other cameras for sure !!!

  • ADMIN, there is a new Nikon patent issued today regarding sensor colour filters/array.. don’t know what it is about..

  • D900_Buyer

    The forecast numbers are interesting… Nikon is predicting only slightly higher sales in the second half of their fiscal year (since the first half sales forecast is just under half of the total year forecast), but their profit prediction for the second half is multiple times that of the first half.

    To me, this signifies the release of a high-end DSLR (and/or multiple high-end lenses) — items that (I assume) have high profit margins.

    Any other interpretations?

    • Replicant

      Excellent idea!
      I wonder if previous financial results/forecasts have correctly identified the release of new products as you’ve suggested.

      • Yes, they have. And yes, that was my observation too: the second half of the year has higher profit margins than the first half, which would tend to indicate new products. But…remember the second half of Nikon’s year starts in October. Thus, July/August announcements with ship shortly thereafter are still consistent with that.

        • Thom, didn’t you point out several months ago that it looked like a July/August release window for several high-end DSLRs? Could’ve swore this was “old” news (but something that no one seemed to’ve paid attn to).

    • I_want_a_D700X

      I am thinking BOTH D700S and D900 would be released. Both are high margin items, and would lure the buyers of those FX bodies to buy more hyper-expensive FX lenses as well.

      We can’t rule out of the possibility of a D400 release as well. DX semi-pro bodies usually doesn’t follow the D3->D4 schedule of 4 years. I wouldn’t at all be surprised at a D400 by end year.

      The rumored 24-105/4 VR, 70-200/4 VR, and FX 28-300 VR would be huge sellers as well.

  • Eric Calabros

    LEARN offering superb image quality at low price from Pentax, releasing millions of models in P&S segment from Canon, designing superzooms from FUJI, being in news from OLYMPUS, making optics more affordable from TAMRON and marketing for them from SIGMA… or you will lose another 10-15% next year.

    • fork()

      “Learn”…and see how your loyal customer base fades away because the used-to-be-great brand faded into the dull grey of “everyone else”. Yeah. Very good idea. The 10-15%…let me spell it out for you: r-e-c-e-s-s-i-o-n.

      • zzddrr

        fork(), here is queation for you. (I am not sure that you are capable of understanding it though). Tell me, how on earth Apple is not crying and was able create such growth during the same time?

        The answer is that Apple did the homework and came out with products that sell! If Nikon had just a tiny bit of Steve Jobs, we would not argue.

        • Nikon is a Japanese company. Having worked in Japan for 7+ years now as well as knowing a former exec at Panasonic along with a former CEO of Sony, I’ve never gotten the impression that *anything* happens quickly in a Japanese business. Slow and steady. I agree it would be great if someone Steve Jobs-ish came along and made a splash in the pond, BUT… the likelihood of that happening is very low, IMO. The corporate culture here is unlike the Apple corporate culture. Someone might surprise us, but I wouldn’t ever bet good money on it.

  • PhotonFisher

    The good news is: Nikon is obviously able to surpass a year of financial troubles.
    The bad news is: their equipment simply works – so they need to enter new market segments AND provide upgrade paths.

    Photography has become a commodity – any manufacturer of equipment is fighting for attention. Letting people wait is a strategy for the high-end – for volume segments it is the opposite – very rapid delivery of new models.

    My understanding: Nikon needs to wait to sell their cameras at reasonable prices. Once the warehouses are empty we will all of a sudden see a new camera&system.

  • Joseph

    I think I’ve saved money by shooting Nikon. This is because I’ve been waiting for a 24mp body (under $4000) for so long. I was ready to buy it 6 months ago. Just waiting for it to exist.

  • R!

    FULL HD + MORE PXLS = MORE SALE$$$$$$$$$$$$$$$$$$$$$$$$$$$
    nIKON WILL YOU GIVE US NOW WHAT WE ASKIN FOR 2 YEARS ???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????

    • amunk

      congratulations! you win the annoying comment of the year award.

  • maybe they expect a sharp recovery because they will be releasing the new D700, D4, and the real competition for the G11! YAY!

    • Anonymous

      or perhaps are buying lottery tickets … a lot of them

  • Joe

    Nikon you better release P7000 or a compact that have a hotshoe or a way to trigger Nikon’s wireless flash system. Or else I

    • Or else. Yup, that’s the ticket. I’m sure Nikon’s paying attention now.

      Ya hear that Nikon? Joe’s MAD!!

  • Kerni

    I think, people here are split in two parts: D700 owners who like their machines and D700+X awaiter, who are waiting for a year now and are pissed off that they don’t get a cam in their hands…

    well, there is maybe a tiny part of D700 owners who need an upgrade, but i think those pros earn that money to buy a D3S/X… and especially pros know about the focus of lenses and not of bodys that get old on short terms…

  • psychophoto

    As a grad student, it’s hard to justify large purchases like a new dslr. However, the projected release date for the D90 upgrade (August, if we believe it), fits nicely with my savings plan. New body, and maybe that wide Tokina 11-16 to go along with my new favorite lens 35 (1.8), and I should be set for a while. Until then my trusty D40 will have to get me by, as it has for the past 2 years.

    Would I like the replacement next week? Hell yeah, but we have not control over that. Relax, and direct your energies somewhere more productive.

    Thanks to the Admin for his/her hard work on this site!

    • R!

      tokina 11- 16 is very good but I dont like the handling, If tht is for regular use itS very nice , but for reporter like shooting or sports or Nature ,Its not good ,not because of the immage,that is very good and better than others DX lenses because of the f2.8.
      But Its not an all weather lens and AF is slow and now AFS.
      Its still a very very good lens for indoor and incityshoots without rain!!!
      I dont regret my purchase but take the 16 35 vr instead you will keep it for ever, with the next damned D700XS wtvr and with VR you get sharper high iso shotts than f 2.8 without VR ,take care goodbye for tooday inmates….

      • preston

        R, he just said he’s a grad student that’s low on money and you’re going to recommend that he buys the $1,200 lens over the $600 one? I take it the ‘R’ doesn’t stand for Realistic.

    • ArtTwisted

      as a photography student.. you should check my “savings plan” , names like mamiya and leica keep popping up lol. I sure can dream, about leica anyways, because i will have my mamiya MF system and a RF system . SLR is just till i can buy those. BTW the current D90 is amazing already, im sure a new one will offer better video and a bit more resolution but if you need a better camera the d90 is a great option.

  • The invisible man

    45 giga pixels picture, they used a Canon, I wonder why….

    • R!

      Fashion victims!! that’s why because colors always better on Nikon!!

  • jettblack

    Whatever the Nikon strategy is, It looks like it didnt work very well last year for them and it should be re-evaluated. Maybe a program life of 2 years for DSLR’s is no longer good enough and needs to be accelerated. Maybe it now needs to be refreshed @ 1.5 years

    My thinking is, for a company like Nikon, they need to be working well ahead and probably already have the next gen replacement models ready to go, on the shelf, for most of their cameras. Especially if the competition already offers this content in their cameras. My guess is that some nes DSLR’s will come at the end of summer in time to be marketed for Xmas.

    • Where’d you get that their strategy in cameras isn’t working? 13% growth in DSLR unit volume, 12% growth in lens volume, 11% growth in Coolpix volume. DSLRs market share grew slightly. Profit was substantively up for the imaging group.

      The strategy for the Precision group (semiconductor group) WAS rethought last year, and is one of the reasons for the large loss: they unloaded assets, personnel, and plants.

      As for thinking ahead, Nikon works on four year boundaries for their top end equipment. They’ve been working on the D4 for almost three years now.

    • If anything, the process might lengthen instead of shorten. There are only so many options one can cram into cameras. And only so many upgrades people are willing to make before you saturate the market. Are you willing to buy a new camera every 1.5 years in order to help keep Nikon afloat? If you are, I’d imagine you’re in the minority.

  • Some of these links are of ByThom blog updates about new Nikon DSLR modles about to come out that go back to 2008…how is it that these are relevant to the update on Nikon’s current financial reports?

  • Anonymous

    I just heard that Nikon will start a new promo this summer (in order to raise the sales and make profit for 2010-2011)
    Buy a D700 and get an other D700 for Free !!!
    Also, in the package will be include a special Photoshop plug-in (to make 24MP pixels pictures from the two 12MP sensors).
    Who is still complaining about Nikon strategy ?

    • Anonymous

      (sound like an other Invisible man’s joke)

  • Steve

    I looked at the “Summary of Estimation” for next year and this is what it said:

    Imaging Company
    – Establishment of solid profit structure through strengthening procurement and production
    system to secure profit under even appreciating Yen.
    – Development acceleration of new generation digital cameras.
    – Enhancement of sales, servicing and brand value in the rapidly growing emerging markets.

    My interpretation:
    More products are being made in China
    The D4 will come out in this next year.
    They are attempting to increase their market share in China

    • JorPet

      I think the the first one translates into doing more in the US and Europe. They are getting killed by the 12% drop in the US dollar and 22% drop in the Euro between 2009 and their 2011 estimate. By producing products in these downward spiraling economies it protects them as the Yen strengthens.

      The last one they speak of mostly Mexico and South America in several places. They mention these are largely undeveloped markets.

  • Jabs

    A Shred of incompetence here, perhaps:
    Digital cameras have become a victim of the insatiable desires of people who expect newer and newer cameras almost every MONTH.
    They expect high quality and better plus more usable features often while unaware that someone has to engineer and also figure out how to manufacture these at price points that they can afford.
    People now expect three things.
    1. Higher and higher resolution plus smaller, lighter products.
    2. Faster refreshes and better products.
    3. Lower prices and then more features at the SAME quality levels.

    I think people have been spoiled by digital cameras to the point now like what has happened to computers. People expect lighter, faster and cheaper computers every six months and then these new products kill the value of the current products.
    People all over complain about lighter weight in everything EVEN when this kills your productivity due to smaller areas to put human sized controls.
    People complain about wanting greater durability, faster speed and lower prices YET these are not possible today.
    You need a dose of reality as you are asking digital cameras to now become standardized and commodity equipment devoid of real innovation just like what has happened to netbooks and laptops.
    R&D takes time and huge monetary resources, so most of you seem to be asking for cosmetic updates with frequent but questionable real updates just to satisfy your lust for new gear and more new gear while all of your old gear now becomes worthless.
    Seems like we are asking for more and more for less and less until you get beautiful outsides with nonsense inside.
    BE careful what you ask for!
    BTW – Nikon makes or includes in their digital cameras several 12 mp sensors.
    1. D3 – D700
    2. D300
    3. D 90
    4. D 300s
    5. D 3000- D5000
    6. D3s

    Many here complain genuinely or not but if their needs were immediate, they could perhaps RENT some higher resolution equipment to make the needed money to buy the current higher resolution gear, but alas complaining seems easier that using available solutions and doing something about it.
    Some like to deal with the current reality, while others love to just complain and dream about ideal equipment because they love specifications over real working gear perhaps. It is so sad to hear all the same complaints over and over.
    Whenever Nikon releases some affordable cameras above 12 megs, then the next complaint will probably be – I WANT over 30 megs.
    Progress has spoiled some and has even driven some ‘MAD’ in some lust for more and more – LOL!

    • Hopefully a few might read that and absorb some of it. I doubt it, but great try!

      Think you’re 100% dead-on, btw.

  • R!

    I understand that:
    yes for the china factory with 15 hours a day and 364 days a year for lowpay.proof is the 105 vr,that means let the red shirt In Thailand try to get some western rights for worker like a real democraty we going slavery way…
    they lost so much trust of the entry consummer that they have to change and improove there philosophy not to go down to much in the Actioner mind!!
    so they have to come out with new pro product thank you!!
    I think they don’t think to the chinese market too much cause they don’t have the money to buy new products evry year,I think emerging is for the new markett of evil not emergeant country because hina is a leading country and becomming the 1st in the economy monopoly ,they already have all the treasures bonds of the central alerican bank,It is all BUSINESS AS USUAL;;;

  • Jose

    Come on guys, go for canon. This company who loss camera sales from 1.6 million in 2007 to 1.3 million in 2009. with a net fell of 10%. Nikon have losses in 2009 but a profits in 2007 and 2008. your oppinion must be base in real situation not only in your fellings or opinions.

  • JorPet

    Looking through the Nikon and Canon financials is quite interesting. Nikon is far more forthcoming in their report than Canon. By volume, Nikon owns about 35% of the digital camera market. When you figure that only 10% of the total market is DSLR and of that Nikon owns about 35%. Then split that up among seven models models, each model takes up around .5% of the market.

    Even if they came up with a 30 MP, ultra-high ISO, Full HD, etc, camera, the best they are going to get of the market is a bit above the .5%. They aren’t suddenly going to own 10% of the digital market with such a camera. Why not? Well, to come out with all of that in a single camera you are going to be back in the $10K range and that is only going to appeal to a very small audience.

    To think that you should be able to get all that at a $2K price point is ludicrous. You don’t get a Porsche for the price of a Yugo and there is a reason for that. Some of it is cachet, but most of it is the higher COGS that such products have.

    • Jose


      Thanks for your info, we were replying with arguments, about finantials, quality, Technology, support , optics, experince, characteristics, etc. They just argue Megapixels, let this canon fan to go with them. Infortunatelly Canon rumors has not this kind of blog that allows us read the amount of complains they have with theirs cameras.

  • Anonymous

    I like D40, but what replacement? D3000? Rubish. Answer Canon S90 :))))

    • Canon s90’s a nice cam, but definitely not perfect. My estimation of Canon’s ergonomic engineers isn’t very high and they did not “disappoint” with this offering. The s90’s the 5th or 6th Canon P&S I’ve owned. There are some things they did right, but several things that they did flat out wrong as well, IMO. I wouldn’t mind seeing an answer to this cam.

  • D200 Onwer

    How many real buyers out there of $2000-7000 new camera bodies? Not the same consumers that have over leveraged and are walking away from their home mortgages.

  • kevin

    Some of you seriously need to give your head a shake.

    1. Canon releasing the 5D Mark II will have a huge crippling effect on their business for the next DECADE. You think they’ll sell many 1D and 1Ds series cameras when there is a $2400 piece of crap that people seem to think is a godly camera where as in reality it was out dated before it was even released.

    2. The D700 is vastly superior to the 5D Mark II except when it comes to megapixels and video, woopidy.

    3. 12mp cameras can make huge printed images with excellent quality. If you really need 24mp pay the premium for it and don’t be cheap and just bitch about it.

    4. Nikon is an intelligent company unlike Canon. They have realized that over the coming years it will be difficult to make substantial improvements to cameras other thank megapixels and still try to sell the new bodies with increasing prices. The only way to improve on the current D3s in all practicality is to increase the megapixels and add 1080p video. How many would pay for that? Not many.

    I myself shoot using a D3x and a D3s and honestly they are the perfect setup for any photographer as they give you the ultimate in flexibility. People complain about the prices of the bodies and for me I just laugh since I really have no need for a new camera body for a good 3 years.

    This is the exact problem Nikon is going to have. Not many pros are going to upgrade unless they can find something to make it worth the while and quite simply put they wont.

  • Harcort

    It seems that this Year will be worse.
    Maybe they need to change Product Managment.
    I’m a Nikon fan for many years now, (i’ve been building my system on Nikon products) but i must admit that Nikon is getting a little left behind regarding technology and price, namely by Canon and by Sony.
    Maybe some new blood in Product Management would do good to a company that needs to define new Market directions as Canon and Sony did.

  • nikon fanboy 27644

    Keep reading comments that Nikon is competing hard enough with Canon and blah blah. Nikon’s too expensive, Canon EOS 5D mkII is better than the D700! I’ve heard enough. I know some of you are Canon Fanboy just trying to troll us Nikon Fanboys and that’s cool. But if you are seriously a Nikon fanboy hating on Nikon then I simply cannot forgive you. If megapixels are *that* important to you then go with Canon, seriously.

    The D3 and D300 were (in their time) revolutionary cameras. Even today they hold up fine and perform in such a way that it can seem to make an amateur shooter a better photographer than they actually are (!!!)

    I’d rather Nikon take their time and then release some more revolutionary cameras instead of rehashing cameras with little gimmicky improvements (shooting video, imho)

    Nikon’s not going to go out of business, nor should you care what their market share is or whatever. Seriously, who cares. Some of you guys need to relax and just take some photos instead of worrying about what Canon and Sony are doing. Can I get an amen? 🙂

    • nikon fanboy 27644

      And one more thing I want to mention: Build quality. I hold a Canon dSLR in my hands and you can tell where they cut corners –the build quality. It just feels like you’re holding a toy. Also, you gotta love the loud shutter slap on the Nikon 😀

  • Tony

    I don’t understand the noise about bodies. Nikon makes some fine cameras. I am happy with my D300s and look forward to the D700 replacement.

    However, the reason I have not bought a D700 is because of Nikon’s slow lens updates. The mid-range non-DX lenses are old and not great. The primes are also old. I’d love the fast 85mm, but why not a af-s? The 200mm micro without VR, but the 105 has it? How long did we wait for the fast 24mm.

    So, it is the lens development cycle which needs improvement, not the bodies. I should also mention that the Canon 5dii canibalizes Canon’s video cam segment. So, if you see those sell fast, it probaly has been at the expense of their other products…

    So, I wait for the new full frame body because the lenses will likely be announced then, too.

  • Aye ba ba!!

  • My last post means, a big SIGH. Folks please be patient.

  • ArthurH

    Of course I respect other people’s wishes, I do. But for once I’d like to say:
    – I don’t need more than 12 Mp, I don’t know what’s the use of that.
    – I don’t need a photocamera with video, or one that makes coffee, or whatever.
    – I love my D700, it’s a very good camera and I’m happy to own one.
    – The only thing I would like is new lenses, and I’m happy they are arriving nowadays.

  • Alex

    You can’t keep selling two year old cameras and expect sales to keep climbing. Back in film days, it probably worked, but with electronics, things are always changing, and Nikon and Canon really need to get that. Other consumer electronic equipment have 12 month cycles.

  • kevin

    The ultimate irony in all of this is there are so many people that come onto Nikon Rumors to complain how there isn’t a cheap 24mp camera for them yet at the same point we have many elite level professionals that have made the switch from Canon to Nikon based on just how great the D3 and D3s are.

    The fact is very simple if those cameras meet the needs of a lot of professionals then why do we have people complaining and whining for a D700x that they really don’t need in the first place.

    Now lastly lets consider this. The A900 is now discontinued meaning the supply of the sensor is now going to further limited meaning any chances of seeing a D700x are extremely remote at best. It’s now more likely than ever that we will see a D700s and honest I think many nikon users will rejoice at that idea.

    When the D4 and D800 come out we’ll be seeing a camera in the 18mp range. I honestly don’t think Nikon or Canon are going to mess around with that 30mp idea just yet.

  • Ron Adair,

    I appreciate your attempt at reasoning with some of the people here – but I don’t think that you’ll be successful in getting them to understand your points. Some people just like to complain for the sake of complaining. It doesn’t make much sense, but then again there’s no real harm in it.

    • The main reason I counter inane arguments is for the fence-sitters. I hate seeing FUD and idiocy sitting on these boards unaddressed, lest someone read the lies or foolish points and believe them. That’s where I see the harm. I wish we were a more critical thinking society. I really think we could benefit from stronger reasoning skills.

      So, I do my part to balance the conversation so those perusing don’t think, say, that the 70-200 VRII is fatally flawed due to a few small spots, that the D3/D700 have banding, or that the alternative systems are “just as good” simply because the specs say so. And I hope my impetuous vocalization will encourage others to dig around and find truth for themselves and either correct me if I’m wrong, or see for themselves what is correct.

  • This is a nice debate. Sometimes folks forget that its the photographer that can make the difference. No doubt a powerful camera is important but giving a D3x to just anyone will not make a great image. I know I will get flamed for making this comment but its important to stop chasing megapixels and focus on achieving better results until a more advanced camera come out. Then and only then if it serves the purpose should one take the plunge.

    • +1

    • What? Is there an influx of sensible people on the forums today? I am amazed.

  • Alex Wong

    Why would NIkon introduce any replacement models when their fiscal year is almost at an end? That won’t reflect their sales very well.

    This is very basic logic in marketing and sales.

    • Alex Wong

      Don’t forget that they were also trying to get rid of their inventory earlier this year with rebates.

      They’re making room for newer and better stuff!

    • Their yr ended 2 months ago.

  • kevin

    Yes but newer stuff will not include a D700x. I dont think people would flame you for saying the photographer would make the difference since most professional photographers can get away with cameras that aren’t nearly as sophisticated as a D3s or D3x. These cameras just provide a much better tool for the photographer to use. I myself bought both cameras as I do have a need for a higher res lower ISO camera while at the same time needing a camera that provides greater flexibility. Originally it was intended that my D3s would be the backup however I am using the D3s significantly more than the D3x. Some kind of strange irony behind this but it is true.

    I’m seriously to the point now where I likely won’t consider buying a new camera body for 3-5 years. Do you not see what kind of effect this has on both Nikon and Canon when the camera bodies are to the point now where you seriously have no real need for an upgrade for that period of time.

    Canon is going to have major regrets over the 5D Mark II and for the forseeable future they will have clients that choose them simply because the products are cheap and not necessarily because they are built well or are better than what the competition has to offer.

    Truth be told if the Canon lineup was all that great then why do we not see a lot of stories regarding Nikon pros switching to Canon. To mention Sony in the same category as Nikon or Canon is also just foolish. If you think the A900 was a great camera then you need to give your a head a shake. Identical sensor as the D3x yet the image quality was quite poor in comparison. I still to this day find that rather remarkable.

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