Nikon to cut 1,000 jobs in Japan, or 10% of its domestic workforce

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Update #1: Nikon issued a statement denying any layoffs.

Update #2: Nikon to “re-assign” 1,550 employees in Japan, total headcount will be reduced by 1,000

This just in from Nikkei - "Nikon to cut 1,000 jobs in Japan":

Nikon plans to eliminate about 1,000 jobs in Japan, or 10% of its domestic workforce, as the company shifts resources away from once core businesses to medical devices and other growth areas.

The cuts over the next two to three years will mostly affect Nikon's money-losing semiconductor equipment operations and its shrinking digital camera business.

Nikon is seen missing its forecast of a 64% jump in net profit to 30 billion yen ($287 million) for the fiscal year ending in March. Its net profit has fallen from a peak of 75.4 billion yen in fiscal 2007 to 18.2 billion yen last year.

From Reuters - "Nikon drops sales forecast as high-end camera market stalls":

Nikon Corp cut its full-year unit sales forecast for high-end cameras for the second quarter in a row on Thursday, as a dramatic fall in demand among photography hobbyists that began last year accelerated faster than expected.

The company posted a 41 percent drop in operating profit to 21.9 billion yen ($222 million) for the six months ended September, saying overseas demand for pricy single-lens reflex models had remained depressed.

It cut its unit sales projection for interchangeable lens cameras to 6.20 million from a previous forecast of 6.55 million, which had predicted the first fall in sales of the format since Nikon's first digital SLR in 1999.

I will have a separate post on the latest Nfinancialncial results.

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  • Kiboko

    Not so good news … 🙁

    • Not good news at all. Have not heard another photo-related company to have layoffs yet.

      • Michiel953

        They will. Nikon is not unique. Where do you think all the losses go?
        Look at it this way: Nikon is adapting to the changing environment. Leaner and hopefully meaner. Sound move.

        • I am sure they will, from all the financial reports from camera manufacturers I’ve seen so far, they are all bad: http://photorumors.com/2016/11/04/amazon-best-selling-cameras-latest-bcn-sales-ranking-and-cipa-report/

          • Michiel953

            I don’t think CIPA does more than count unit sales. Running a business unit is slightly more complex, although dropping sales are only good news if you’re selling at a loss anyway.
            Again, sound move.

            • Just scroll down on that article where I have listed the financial results of few other companies – this is what i had in mind when I posted the link, sorry for the confusion.

            • Michiel953

              Thanks Peter!

          • JL

            I have no financial reports, too, but Sony itself says they are quite happy with their camera business, with an increased market share, e.g. 25% in all full frame cameras in Europe:
            https://youtu.be/YUtcm6YFjcM?t=16m48s

        • from the same article:

          Other Japanese peers are having problems as well. Ricoh has announced the closure of a production facility as well as plans to streamline back-office operations. Canon has downgraded its full-year forecast, now expecting a 25% drop in group net profit for 2016 amid declining sales of office printers and cameras.

      • KC

        I suspect yet is the operative word…

        • Yes, I have been saying this all along – all camera manufacturers are struggling, DSLR or mirrorless.

    • Morris

      thinking of MY company (20k employees)
      i see ON A DAILY BASIS, dozen of people that SHOULD BE FIRED IMMEDIATELY, EVERY SINGLE DAY, instead the union ‘covers’ them, and they steal 10-15 years of salary, STEAL to be kind. Now, IF i was sure, 1000 of these lazy AS*ES (talking about my company) are going to get fired, there would be nothing to be sad about (there are another 1000 people outside looking for a job, and would work like elephants, instead they are not allowed)
      but only to celebrate for the happyness of the company and for the happiness of the society, while another 1000 could enjoy the rest of their misery outside drinking (PLEASE, REMEMBER IM TALKING ABOUT MY COMPANY and the people i see daily)
      and yes, i am one of those who works like an elephant.

      • Just Me

        I’ve never read or heard, ‘work like an elephant.’ I suppose it’s appropriate though.

        • Morris

          🙂

        • Probably looks like one as well. Should zip up if that’s true.

          • Morris

            i didnt develop a long nose yet !

      • doge

        I assume making anonymous comments online during work hours is part of your job description then.

        • Morris

          i just came home, after 6 hard hours, what are you talking about ? the dozen of people who taps and slides on phones and tables that someone hired and that the union keeps tight ?

          • doge

            wow! 6 whole hours of work? You must be parched.

            • Morris

              there are people who works 6 hours (where i work) sitting on a chair, putting stuff in closets, with no rush), i, my dear, move-raise?- bags from 10 to 30 kilos and fast (we have got to finish by a certain time)

            • Maybe if you were a bit smarter you could have one of those jobs “sitting on a chair, putting stuff in closets, with no rush” instead of heaving bags for 6 hours. You’d be less angry at the end of the day and less worn out at the end of your working life, which will be soon when you’re replaced by an autonomous lifting device designed and programmed by one of those “lazy” people.

            • Morris

              if i do like them, and if all the hard workers do like them, it¨s the end of the society and of many companies, i’m too honest and respectful to abuse of a system.

            • Morris

              my 6 hours, are hardly comparable to many peoples 8-10 hours (i also work sometimes 6 days a week and from 7 to 9 hours), but what can i try to explain to you ? you have no idea of what i do and what i see (many sweet ladies blabbling most of the time, careless guys (spoiling product quality), ex alchoolists that beg to have a job) -sadly a company is not meant to do charity

            • TwoStrayCats

              And you probably aren’t going to tell us, either… are you?

            • M09

              i told everything already

          • steverobzdad

            Was the rest of the time spent at tea and lunch breaks?

        • Morris

          ´making anonymous comments online during work hours´ —–> can you prove that i am working (at work?) ——> do you know the situation in my work place ?, your post was a total NONSENSE based on nothing.

          • You should stop referring to it as “my” company, and instead refer to it as “the business that (temporarily) employs me”.

            By the way, the frequent use of CAPS doesn’t actually lend any substance to an argument, so you can save yourself a few keystrokes. I’m sure you see it as ‘honest labour’ but it really isn’t necessary.

            • Morris

              thank you for the corrections, appreciated 🙂

      • KC

        WOW, what a troll… Maybe I should have said narcissistic troll.

        • Morris

          ah jah, a troll
          hope KC, your son can be hired and not be jobless because some other sweet Roses got her place for her beauty and not for her intelligence or hardwork,

          • KC

            And a misogynist as well.

            • Morris

              lol, all this circle of words to deny to say that part of the world is lazy eh ? -mom of a random lazy guy ‘ MY SON IS THE BEST !

            • ryanyomomma

              I hope you’re a teenager. Adults shouldn’t be acting like you are. Plus, your troll game needs some work. It should be cheeky and funny, and not cringy and sad.

            • Morris

              i gave my 2 cents and my real experience in a large company, some funny guy answers without knowing, supposing things that are not and making jokes

              i see it differently
              enjoy your realities

            • ryanyomomma

              Being coherent helps when engaging in conversation. You should generally stay away from posting drivel if you want a meaningful conversation. You have been posting drivel this entire time.

            • ryanyomomma

              Incoming: more drivel. kek

            • Morris

              where is non sense in my entire time ?
              1) my work experience (i only know) where i state facts
              2) we all know, the world is divided by hard-good workers and less good workers (deny?)
              3) considering nikon and the company where i work are all quite big, i wanted to make a comparison, a fired person is not a loss if it’s a bad one – whats wrong with it ?

              there is a lot of sense in this, of lived life
              what is the problem to accept and admit it ?

            • Spy Black

              So you’re voting for Trump I see…

            • Morris

              trump would hire 10 nice ladies, no matter what they are good at 🙂 i am telling you that you need 9 strong guys if you need to build an house. all i get is a wave of jokers saying ‘pee pee pe pe pi’ Ofcourse if i told the mom of a lazy lady HEY, YOUR DAUGHTER is a disaster ! stealing her salary! destroying a company and a society!, the mom would write a book against me, eventho i am 200% right (because i see who works and who doesnt, and some bosses agrees with me)

            • Spy Black
            • Morris

              😉

            • ryanyomomma

              Did you even read the article? Or lemme guess, you read titles? The relevance is in the article and what you been saying (apart from being narcissistic), has nearly zero relevance to what is going on with Nikon. It’s called consolidation and pivoting to growth markets. The semiconductor and imaging departments are no longer growth markets. It’s within Nikon’s best interest to pivot to other markets and part of that move is laying off people. It has nothing to do with individual performance or who is a good or bad employee, hence what you been saying has been drivel.

            • Morris

              what a company says counts all and nothing (same like when nikon denies products with problems)
              or like 2 companies deny for months the merging ‘masking it as bull S it’ but then it happens (didnt you say for months that it was bull s it?)

              however, why don’t you jump in with a proper explanation instead than just hitting ? and giving sentenecs (over me, as if i gave sentences on any of you in here, ofcourse i replied)

            • ryanyomomma

              See? This reply doesn’t even make sense. You contribute zero anything to this comment thread.

            • Morris

              ok goodnight einstein -oh sorry it’s working hours –

            • ryanyomomma

              You edited your comment three times now. You still make zero sense. Please take your meds. For the love of order and coherence, take your medication and perhaps take some time off the comment board (preferably indefinitely).

            • Morris

              you are writing as much as me, and english is your language -i try to correct my mistakes- you are all judging me, i am not judging you

            • ryanyomomma

              It’s judging well deserved.

            • TwoStrayCats

              We know nothing about you. 2/3 of what you’ve been blowing could be absolute lies. Ah, but that’s the beauty of the internet and pseudonyms.

      • Wade Marks

        Unions have been great to society. Thank unions for the 40 hour work week, the end of child labor, workplace safety laws, etc.

        People complain about income inequality, but the antidote to that in the past has been unions. With the diminishing power of unions you have had workers and the middle class share in less of the wealth.

        Unions are a necessary counterbalance to corporate power. Unions are great.

        • ZoetMB

          The idea of unions are great and unions have contributed everything that you’ve said. But there has also been a downside to unions because unfortunately, many unions are corrupt and many unions refuse to acknowledge the changing needs of companies.

        • ZAP

          amen, bro.

        • M09

          i didnt say that unions are bad, unions are great, however, a bunch (minor %) of bad workers, abuses of them ‘since i am protected i can lazy around, nothing is perfect, is it ?

  • doge

    I would imagine it’s 1,000 coolpix employees. But it’s probably more like the remaining 200 customer service employees, 799 coolpix employees, and the lone quality control employee.

    • Athanasius Kirchner

      Funny and tragic at the same time, let’s hope it’s not true.

      • ZoetMB

        Actually, let’s hope it is true. Because if anyone has to be laid-off in the Imaging Division, I’d rather it be employees related to Coolpix than employees related to the DSLR line or the lens lines. We don’t want Nikon to drastically reduce new development. And Nikon’s customer service has always sucked anyway, so losing those employees probably wouldn’t be much of a loss and I don’t know what customer service employees in Japan do for the U.S. market (speaking selfishly) anyway.

        • Athanasius Kirchner

          Sure, the Coolpix division will soon be completely out of jobs. But the customer service department needs to be strengthened, NOT weakened. Another D600 oil spill and Nikon’s history (and I’m talking about the way they respond to customers, not just the QC problems).

  • Flyespresso

    This is actually good news..! This will ease shareholders and can even rally the stock eventually. 10% of the domestic workforce isn’t all that much–that’s business as usual at many other places. A lot of this (knowing Japan) will come from the older ranks, they’ll just get to their pensions sooner rather than waiting it out longer in the company.

    • ZoetMB

      Maybe you own the stock, but I don’t give a damn about the stock price. All I care about is the quality and design of the products that Nikon builds and whether I can afford to buy them. Nothing else matters to me (aside from feeling bad for employees who are laid off, but my first allegiance is to employees in the country in which I live and that’s completely out of my control anyway.)

      If you manage a company to the stock price, you will never deliver quality. That’s one thing Steve Jobs knew – even though the stock price increased geometrically under his tenure, he never managed to the stock price. He managed with the idea of creating great products.

      • peter w

        Sad thing it is not possible to keep on innovating that what has been the most innovative product of ? the century iPhone. Creating great products has become managing great products. You can make a boost on innovation, but not on managing a (great) product line.
        Nikon has been managing a (great) product line for years. I don’t think they have been doing otherwise, ever. They tried Nikon 1.

        (This from a very low understanding of economics… 😉 ).

  • Andrew

    This is the most depressing Nikon related news in a long time. Nikon was working lean to begin with, although on the bright side, I wouldn’t mind one new DSLR release ever 4-6 years as long as it is a leap. Remember the days of the F series and the 8 year (approx) release cycle. Oh well, so much to read into this, but not much can be said when we don’t know exactly that departments are losing people other than, damn that sucks.

    • Yes, I think the unending ‘need’ to always have something new on the shelf or in the pipeline means they have to pedal hard for little progress. When the new D3XXX hits the shelves and they are still loaded with the previous 2 generations then it seems the world doesn’t really want that pace of iteration. If they put out half the models and sell just as many cameras then they are in a better place.

  • I would think this means the likelihood of any serious move into mirrorless by Nikon will be delayed or scuppered – because things aren’t much better in EVF-land.

    • Alaska

      it would need more effort than nikon can muster to make a dent in the mirrorless market.

  • Alaska

    the beginning of the end….. i said it before 3-5 years and nikon is gone.

    • KC

      Yup 🙁

    • That might eventually be true, but 3-5 years is way too tight a timeline. What we’re seeing here is the beginning of the contraction of Nikon Imaging. They will go on for a long time, but as a much smaller company.

      • I agree, Nikon was here before us and will be here after we are gone 🙂

        • Spy Black

          Hope you’re right about that, but I’m not sure I’ll hold my breath on it. 😉

        • br0xibear

          If Nikon does survive there are really only two ways…
          it becomes a far, far smaller camera company (which means less products, longer times between updates and higher prices), or it’s bought by another company (Sony, Apple, Banana or whoever).
          The idea that some people have that Nikon would be fine if only it made this or that, or had this feature in it’s cameras or that feature, it’s a waste of time. The mass market who used to buy cameras no longer buy cameras, no matter what they are not coming back.
          It’s not just Nikon.

          • Allan

            Agree.

          • I agree – Nikon will be around, let me just remind you that Pentax is still around and they still sell cameras (yes, I know Ricoh bought them and they are small). Do you remember the Olympus accounting scandal that almost brought down the entire company? They are also still around. I know, I know – different times now, but still… I think there are few other companies that will go down before Nikon does. Nikon probably will have the biggest fall because they are #2 (and they still are I believe?)

        • ZoetMB

          If history has proved anything, it’s that that’s not necessarily true and “here” doesn’t mean all that much because for many companies (look at all the great U.S. audio companies from the 1960s and 70s), if they’re “here” at all, it’s just a brand name that gets licensed to Chinese companies.

          But even if Nikon is still operating traditionally, that’s not really enough. Nikon needs to be healthy for it to matter. Look at Kodak. The name still exists and the company still exists (it’s actually two companies now) and they still make some still and motion films and they’re still heavily in the chemicals businesses, but no one would say Kodak is healthy and their continued operation is still in question.

          • Eric Calabros

            The difference is we no longer need film. But we will need high performance digital sensors and high performance lenses.

    • Athanasius Kirchner

      I wouldn’t kill them off – but I suspect that Nikon themselves see a much diminished market presence in their future.

      It could well be that the D3400 marks the end of that series, for instance.

      • Alaska

        nikon was in bad shape for a while.
        now with sony on the rise it´s even more difficult for nikon.

        nikon has a loyal pro userbase… but that´s not enough to be a big player in the future. the management has made wrong decisions over the last couple of years. not to mention the manufacturing issues and the handling of these issues.

        nikon has nothing in the mirrorless sector that is interesting.
        the minute gopro goes down….. nikon gets into the action camera market. action cams will be dominated by cheap china stuff soon. stupid idea.

        shifting focus to other businesses…. that can only mean things will get worse for nikon users. not a message you want to send in a declining market….

    • WDSPB

      Not enough hyperbole… more needed. It will make me take you more seriously.

  • animalsbybarry

    I realize this rumor has been debunked
    But as the value of Nikon imaging decreases it makes more and more sense for Sony to buy it
    The product lines really do fit well together and would aid competition against Canon

    • KC

      Unfortunately there are no real synergies between the two camera producers. In this instance IMHO 1+1 does not = 3. More likely 1+1 would = 1.5 🙁

      • animalsbybarry

        I totally dissagree

        Nikon has lenses
        Dslr SYSTEM
        Reoutaition

        Sony has mirrorless and sensors

        A perfect fit

        A99ii could add F mount version
        Adapt

        • KC

          Lets agree to disagree… 🙂

    • Athanasius Kirchner

      Sony’s in no position to acquire Nikon, financially. But I’m sure that, were Nikon to lose even more market share than they’ve lately, it’d move Sony to develop products to fill out whatever niches they leave behind. For instance, A-mount lenses, better flashguns, and an RX like the DL 18-50 (pretty please, with sugar on top, Sony?).

      • I am a big fan of the Sony RX line. Nikon should have done something similar long time ago.

        • I am such a big fan of their line that it irks me frequently – I cannot afford to add it to my set of tools, yet those Sony single lens cameras really do create envy – they are what the Nikon 1 series could be, and a sad example of what Nikon could be creating if they cared about it.

          They are iterating rapidly, and I know they have problems, but they are so very attractive, almost bought an A6300 but stayed with Nikon and my D500 has never overheated during high temp long 4k shoots.

          Whether it’s the impressive one inch sensors or the viewfinders they manage to cram into a tiny camera, the 120+ fps 1080p or 4k, the fact that Nikon hasn’t put out basically the same camera has been mind boggling, this should not be too difficult, no?
          Oh wait, overheating…

    • I see no sense at all for Sony to purchase Nikon. Zero. Sony has anything they need.

      • ZoetMB

        They’d be buying a brand, customers and market share, although it’s a brand that doesn’t have the patina it once had, many of its customers are pissed and disappointed and it has declining market share, although still much larger than Sony’s. Technology is besides the point.

        Buying it would enable them to combine manufacturing and back room functions, thereby lowering costs and increasing net margins. It actually would make sense if it were priced low enough. And imagine all of Nikon’s best lenses adapted to EF mount.

        And come to think of it, although there are licensing and patent issues to resolve, why doesn’t Nikon produce the best of its lens lines for Canon and Sony mount? They’ve always wanted to force its customers to buy its bodies, but maybe it’s time for a fresh approach to sell a ton of lenses.

  • BayouBill

    If nothing else, this should quash the rumors about Sony buying Nikon’s camera division. If there was any chance of that happening, Nikon wouldn’t be laying people off but would just let Sony do it as part of the buyout. The fact that Nikon is cutting personnel demonstrates that they plan to be in the camera business for the long haul.

    • Actually, it may help the stock price which would discourage Sony.

      • KC

        My suspicion is that not all of Nikon would be sold, just the camera division, as a carve out…

        • Athanasius Kirchner

          Nikon IS their camera division, pretty much.

          • KC

            True…

        • Who is talking about Sony buying Nikon again?

          • KC

            Not me, there are no synergies there. That combination would destroy shareholder value for both companies!!!

            But rest assured that this industry will shakeout and there will be a number of combinations as the industry continues to shrink.

    • I think I did squash that rumor already 🙂 and Thom did that too:

      https://nikonrumors.com/2016/11/04/about-that-sony-buying-nikon-rumor.aspx/

      And no, there is no chance for this to happen.

  • Ric of The LBC

    Better not be letting the Df2 and D900 people go.

  • ryanyomomma

    Well, this was more of an eventuality than a forecast. I don’t think it’s bad as it looks. Pivoting into other markets can have the potential in helping their imaging business, much like it helped Fujifilm when it had to navigate the digital transition by going into pharmaceuticals and cosmetics.

  • Allan

    “Nikon plans to eliminate about 1,000 jobs in Japan, or 10% of its
    domestic workforce, as the company SHIFTS RESOURCES away from once core businesses to medical devices and other growth areas.”

    Because of the decline in sales, they don’t need these 1,000 people.

    I interpret this as an indication that they will cut back on research and development in the camera division, and use these RESOURCES for research and development in medical devices and other growth areas. Why spend a lot of money on research and development in the camera division, if camera sales continue to fall (for all manufacturers)?

    Nikon is going to try to grow/survive without their camera division (ONCE [ouch] core businesses).

  • ABB

    Nikon D5: No GPS, no Wifi, no Blutooth, no connection to my smartphone, different handling than D810 an D4s .. what the fuck
    Nikon D810: No GPS, no Wifi, no Blutooth, no connection to my smartphone
    Nikon VieNX-i, Capture NX-D: Total speed disaster, slow, slower, slowest and full of failures. No open Standard for RAW development, no DNG-Standard noch XMP support

    Different heavy chargers and different batterys, very big and heavy for the flight luggage. Do professionals not fly?

    Nikon …. what do you think about your customers? Old man without smartphones, notebooks, internet, email? Not interestet to have a future-proof image processing? No connection to the world wide web?

    Its so easy to see what the market would inspire.

    • Eric Calabros

      Equipping D5 with best connectivity features ever made, wouldn’t double its sales number. and Nikon cant survive with even doubled D5 sales. Thats the problem.

  • nwcs

    They’ve needed to do this for some time as a company. It’s always hard on the workers and that’s the real shame. Still, for the health of the company it’s needed.

  • Matt

    Hopefully it was the keymission and snapbridge team. Maybe toss the team that worked on the 3400 as well.

    Nikon should go and outright buy a kickass app development studio, redo snapbridge from scratch, hire some QA, and announce a total refresh by CES.

    But they won’t, because nikon.

  • Tieu Ngao

    Cutting its workforce is just a temporary solution. Nikon also needs to streamline its product lines.

    As I mentioned somewhere in this NR forum, Nikon should have 3 lines of products: compact, DX and FX. Each line has 3 levels of models aiming at consumers, enthusiasts, and pros.

    There’re 3 main things in a camera: body, sensor and software (processor). Sensor and software should be updated every year, but the body, if it’s good enough, can last for 5 years. Therefore Nikon doesn’t need to produce new model (body) every 2 years, but instead just upgrade sensor and/or software every year at a much lesser cost to the buyers. I think by doing that way, it’d be a win-win for both Nikon and consumers.

    • manattan

      I do not think you are wrong about streamlining, but I would argue that it would be far better to streamline even more. Total of six products. Lower margins and increase QC and development for those 6 products to make them more competitive.

      • Tieu Ngao

        What you’re suggesting may be too big a cut for Nikon at the moment. What I’m thinking is that they need 3 models for DX (eg. D5600, D7200, D500) and 3 models for FX (eg. D750, D810, D5). The same for compacts, they need to have DL series with 1″ sensor, improved Coolpix A (APS-C sensor) and a brand new model with full-frame sensor.

        But the key thing is to allow buyers to send their old cameras in for sensor/software upgrade every year at a cost much less than the cost of a new camera until the new body comes out at 5-yr cycle.

    • KC

      You only need enthusiasts and pro, consumer is nicely handled by apple…

  • Sony is doing very good with their sensor division, no doubt about that. I still want to see independent stats/reports on their camera division, not what the Sony rep has to say.

  • Ganwi Dekani

    their own fault

    -japanese camera makers are not competitive, they still pretend like they’re not in competition with smarphones, they are

    -the people who do want to buy a dedicated camera are asked to pay tons of money for it, cameras and lenses are way overpriced, prices are OUTRAGEOUS, stop catering to a puny enthusiast niche market of old people with tons of disposable income

    -they refuse to give people GOOD cheap APS-C lenses and think everyone is willing to spend $2000 on a lens

    suit yourself Nikon, you won’t survive for long catering to a small niche group of people

    fuji and olympus is next

    the japanese camera market is overpriced, underspec’d, slow, non-competitive and protectionistic

    • I agree, the sad part is that prices will go even higher in the future.

      • Fly Moon

        “japanese camera makers are not competitive”

        Competitive to whom? Isn’t Canon, Nikon, Sony, Fuji, Panasonic and Olympus are ALL Japanese camera makers?

        • Nakayamahanzaemon

          You’re right. Japanese camera makers are VERY competitive.

          • Ganwi

            they’re not competitive at all, they use tons and tons of patents to protect their industry

            Japan is also extremely protectionistic, they score extremely low on the globalisation index:

            https://www.statista.com/statistics/268168/globalization-index-by-country/

          • Ganwi Dekani

            they’re not competitive at all, they use tons and tons of patents to protect their industry

            Japan is also extremely protectionistic, they score extremely low on the globalisation index

            they are number 50 or something

            https://uploads.disquscdn.com/images/3da4a1e58829f77ea569192226bcd86ee54ff558be2e64ee2132ea7c0242dcfd.jpg

            • manattan

              Apple seems to have no problem competing with their potential camera buyers 😉
              The move to the high end is strategic as low end cheap cameras will not be able to compete with the iteration and software of Apple and competitors. What would you have them do? Flood the market with cheap APS lenses? That will only appease those that are already invested in their camera system, but does little to attract new customers.

            • Ganwi Dekani

              Apple is part of an extremely competitive market.

              The smartphone market is a worldwide market with tons of players progressing at an incredible rate.

              The camera market is a market confined to Japan that moves at a snails pace and uses protectionism instead of progress.

              The camera market can only be saved if Japan opens up the market to outside competition.

            • Wade Marks

              Huh. The camera market is open to all; if most companies are based in Japan that is just the way the market evolved. Also keep in mind that these Japanese companies do have facilities across the globe.

              It’s objectively wrong to say the camera market is closed or protectionist. The camera market is global; and even in Japan other companies can sell cameras if they choose to.

              As others have noted, the problem is inherent in the camera market. Smartphones have changed the game.

            • There is also Leica and I think they are doing pretty good.

            • Fly Moon

              What kind of index that ranks Luxembourg or Greece ahead of Japan when it comes to industry?

            • Ganwi Dekani

              huh? Greece is one of the least globalised nations in Europe, it’s in position 24 or so

              as far as greece vs Japan in regards to globalisation, the only relevant data facto of those 2 nations is that they are number 1 and number 2 in terms of Debt to GDP

              japan has the largest dept to gdp in the world

            • Nakayamahanzaemon

              Honestly, I don’t want to get into kind of “Japan is a protectionist bla, bla, bla” discussion. It’s silly for me.

        • Ganwi Dekani

          that’s one of the problems, the fact they are all japanese

          that is literally why all prices now went through the roof due to the Yen

        • Oh, I did not agree with that part 🙂

      • M09

        that is the rule of thumb

  • TwoStrayCats

    I wonder if this could explain the promos to get rid of inventory and the lack of any new FF models besides the D5?

  • Ganwi Dekani

    As Reuters reports:

    “Nikon’s severance payments, restructuring costs related to
    the job cuts expected to total hundreds of millions of dollars
    over 2 to 3 years – Nikkei”

    People don’t understand how Japan works and how uncompetitive it is.

    You can’t simply fire a person in Japan. You have to have the agreement of the employed to fire someone, there has to be a mutual agreement. If there’s not a mutual agreement, you can’t fire someone, and if you do the employee will start a claim disput, which they win in 99% of the cases. (unless they did something horrible). So what companies do is simply buy off their employees until they agree.

    In Japan people expect lifetime employment. Firing someone in Japan costs tons and tons of money.

    • Ganwi Dekani

      Btw, these severance payments are often so high, that it is often cheaper to just keep the employee employed for a lifetime, doing nothing, than to fire them.

    • Wade Marks

      First, if you read any statement by any American company when they have mass layoffs you will also see substantial costs with this. It’s not just severance packages, which are only humane, but also the restructuring and other logistics that go along with it.

      Second, companies serve people, both customers and employees. I suspect that if you were one of those people being laid off you would welcome a humane severance package.

      Also, employees are also consumers. If you cut off those employees from a source of money you hurt their economy, because they can’t buy the stuff they need.

      And if the company doesn’t give a severance package, then the taxpayers foot the bill for social welfare while these people adjust. And don’t tell me we don’t need a social safety net…because if you do then I guess you want families just suffering.

      Third, we know that the Japanese are a very hard working people, so their norms do not in any way damper their work ethic.

      Bottom line: I am very glad these workers being laid off have any severance package they do; it’s the right thing to do.

  • Aldo

    They need Trump in Japan…. he can make Japan great again

  • CaMeRa QuEsT

    I can only imagine the low morale Nikon workers must have from now on. If almost every big new release from Nikon these past 5 years has been riddled with some kind of QC or engineering issue, can you imagine those from now on getting even worse? Also, customers don’t like to buy into sinking ships, so this very news will harm the public’s perception of the brand, driving sales down even more…

  • Pat Mann

    Doing my best to keep them afloat. Thanks for the 19mm, but I really wish I could by some fast wide DX primes. And a V4 with built-in finder.

  • Barry Driffield

    Point and shoot/mirror-less have come such a long way that many people are opting for the portability (myself included). It’s so much easier to throw it into my bag rather than lug around pounds of expensive gear. The RX100V is going to be my next purchase.

  • steverobzdad

    Looks like I will be converting to Canon, sooner rather than later, the thought of Chinese made products being sold at extortionist prices, leaves me little choice, never mind questionable quality issues.

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