Plummeting Camera Sales

Pressured by the improving quality of smartphone cameras and the convenience of apps to share photos instantaneously,” The Wall Street Journal says, “camera demand is falling at an unprecedented pace.”

In the first six months of 2013, camera shipments are down 42.7 percent on year, according to the Camera and Imaging Products Association. There was a 15 percent fall in 2012.

At Nikon, net profit fell 72 percent in the last quarter due to the slump in the imaging division. The company, the second-largest camera maker, cites a steep slide in demand for compact and interchangeable-lens models, the Journal says, and cut its sales and profit outlook for the fiscal year to March.

The biggest declines have come from the entry-level, point-and-shoot models. Nikon is also seeing sales decline in SLRs, and notes the disappointing demand for mirrorless interchangeable lens cameras as well.

Nikon cut its full-year sales estimates for interchangeable lens cameras by 8 percent to 6.55 million units, while slashing its compact digital camera forecasts by 18 percent to 11.5 million units from its earlier projections announced in May, the Journal reports.

Olympus says its mirrorfree camera sales were also falling short of its own projections. Losses at its camera business narrowed in the quarter to a net loss of ¥1.83 billion.

Reuters reports Olympus’ Pen sales fell 12 percent last quarter