What to expect next from Nikon? (indeed slow year ahead + list of rumored lenses)

A few months ago, I reported that Nikon would have a slow year (2025) in terms of new product announcements.

This is what Nikon has announced so far this year:

• Nikon Z5II camera
• Nikon Coolpix P1100 camera
• Nikon Nikkor Z 35mm f/1.2 S lens

Top executives recently confirmed that Nikon is still expecting to have more than 50 Z-mount lenses by the end of this fiscal year (March 31, 2026). They also said that back in 2022, in their Medium Term Management Plan. Nikon currently has 46 Z lenses – that means we should expect at least 4-5 new lenses by March 2026. I am pretty sure there will be delays based on the latest tariff changes – Nikon may have to move production of new products outside of China.

Here is a recap of all the rumors I have gathered from multiple sources in the past few months (again, please note that at this point, given the current geo-political situation, nothing is confirmed, announcements can be canceled or delayed):

Cameras

• Nikon Z9II: still expected at the end of 2025 or early 2026 (there will probably be a teaser first, development announcement, etc)
• Nikon Zr: expected in the third or fourth quarter of 2025. There is a very low chance that we may see two new Nikon cinema/video-oriented cameras in collaboration with RED – one full-frame and one APS-C (just like the Sony FX3 and Sony FX30). This scenario makes sense, but I doubt Nikon will do it – they always stay away from APS-C.

Lenses

• Rumored new Nikkor DX lenses for Z-mount (previously reported here):
  • One prime DX lens
  • One zoom DX lens
• Rumored new full-frame lenses for Z-mount:
  • Wide-angle lens (not sure prime or zoom)
  • Standard zoom
  • Nikkor Z 100-300mm or 120-300mm f/2.8 lens (rumored to be priced around $8000+)
  • More Nikkor Z cinema lenses (rumored for a while)
  • Also possible: Nikkor Z 500mm f/2.8 S VR and Nikkor Z 85mm f/1.4 (to match/complete the 35mm/50mm f/1.4 lenses)

Nikon is expected/rumored to have a slow 2025 year (in terms of new product announcements)

New Nikon price increase list (all lenses and accessories made in China, no camera price increases)

What to expect next: an updated list of upcoming/rumored Nikon cameras and Nikkor lenses