Nikon has risen from the ashes and turned the corner back toward black ink. How the camera company returned to profit.
Although Nikon was founded nearly 107 years ago and has been ubiquitous in the photography space for much of that time, the company is not far removed from financial troubles thatin the cinema space. But Nikon’s financial story is much more complex than this single acquisition or its dance with dire straits a few years ago.
While the 2010 loss can easily be blamed mainly on the Great Recession, the 2017 loss has more to do with Nikon’s decisions than global economic conditions.Hopping in a time machine and setting the dial to 2016, we join Nikon in the waning years of its DSLR era. While Nikon dabbled with mirrorless through its small-sensor Nikon 1 system, launched in 2013, its more enormous gamble was its short-lived foray into action cameras.
Every camera company releases products that don’t perform well for one reason or another. In KeyMission’s case, the products were just actually bad, but sometimes good products flop, too.Eager to turn the corner, Nikon shifted its focus toward its long-anticipated full-frame mirrorless camera system, the Nikon Z.
Nikon’s release schedule slowed to a crawl, with the company releasing only the D6 in 2019 and just two Nikon Z cameras in 2020 — the Nikon Z50 and Z5 — neither of which did much to move the need for enthusiast and professional photographers. While this was all happening, and longtime Nikon fans were wondering if the Z system would ever really take off, Nikon lost $324 million in 2021. The company even contemplated whether it could make things work anymore in the photography industry.Then 2022 arrived, bringing the Nikon Z9 along with it — the company’s first true flagship mirrorless camera. It is not hyperbolic to say that the Z9 saved Nikon. The D3 moment arrived.
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