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Nikon Q3 financial report: revenue and profit down double-digits as it prepares for future sustainability

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Nikon Q3 financial report: revenue and profit down double-digits as it prepares for future sustainability

Nikon has released third-quarter (Q3) financial results for its 2021 fiscal year (FY2021), revealing the harsh realities of a shrinking market further impacted by the COVID-19 pandemic. As doom-and-gloom as the numbers may appear though, it seems Nikon’s Imaging Products Business has survived the worst of it and has set itself up for a sustainable future going forward.

Nikon’s consolidated Q1-Q3 results include data from April 1, 2020 through December 31, 2020, as its fiscal years start on April 1 and end of March 31 of the following year. In order to get a larger picture of Nikon’s situation throughout the pandemic, nearly all of the numbers we reference will include the consolidated Q1-Q3 results rather than isolating only Nikon’s Q3, which doesn’t tell the whole story.

Nikon’s latest financial results for its Imaging Products Business for Q3 and Q1-Q3 timeframe. Highlighted yellow is FY2021, while the columns to the left show the same timeframes for Nikon’s FY2020 results. Click to enlarge.

Nikon’s Imaging Products Business revenue for FY2021 Q1-Q3 was ¥116.7B / $1.1B, down 38% (¥72.3B / $685M) year-over-year (YoY). During that same time, Nikon’s operating loss amounted to ¥28B / $265M, a decrease of ¥29.2B / $277M for the same period last year, which still showed an operating profit, albeit a relatively small one (¥1.2B / $11.3M). While the massive drop in operating profit doesn’t look promising, Nikon does note ¥16B / $151M of that loss was ’fixed asset impairments and disposal/write-down of inventory in Q2 and Q3, and ¥1.9B [$18M] of restructuring relevant expenses.’

The outside of Nikon’s Sendai Factory.

Based on the recent reports that Nikon is moving all of its camera and much of its lens production from Japan to Thailand, it’s likely Nikon is writing off much of the machinery it used in its domestic facilities in order to balance the books come tax time. It also seems Nikon had to get rid of excess inventory in Q2 and Q3, as demand was low at the peak of the pandemic’s impact on the global economy. Considering Nikon explicitly says mirrorless camera sales are doing well, it’s likely safe to say DSLR cameras were the victims of the inventory purge.

A bar graph showing the breakdown of unit sales for various product categories going back to FY2018. Click to enlarge.

Speaking of camera sales, Nikon says it sold 660K interchangeable lens cameras (both mirrorless and DSLR cameras) and 1.08M interchangeable lenses from Q1-Q3, a decrease of 720K and 1.18M, respectively, YoY for the same time frame. Much like we saw in Canon’s latest financial report, however, revenue from those sales hasn’t dropped in parallel with units (as a percentage), meaning the units that are selling tend to be higher in price. Nikon explicitly says as much itself saying its ‘shift to mid to high-end models for pro/hobbyist has been progressing smoothly, and unit sales price has risen.’ As for the numbers to back it up, revenue was down only 38.3% YoY for Q1-Q3, despite sales volume being down 52.2% for both interchangeable lens cameras and interchangeable lenses during that time.

A section of notes from Nikon’s presentation that shows (highlighted yellow) its thoughts on its Imaging Products Business through the remainder of FY2021. Click to enlarge.

Looking forward, Nikon has revised its full-year FY2021 revenue and operating profit by ¥5B, to ¥145B and -¥40B, respectively, ‘thanks to increased revenue and advanced business cost reductions.’ Nikon says it will continue to advance its emphasis on producing mid-to-high-end models for ‘pro/hobbyist’ photographers.

It’s been a rough year for Nikon, there’s no denying that. But as nearly everyone else in the industry has in this unprecedented™ year, it appears Nikon is making the necessary moves to stay profitable through reducing costs (moving production from Japan to Thailand) and streamlining its product lineup to only the most profitable units (shifting to mid-to-high-end models). Only time will tell what the future holds for Nikon and its Imaging Products Business.

You can find the FY2021 Q3 financial results presentation and data on Nikon’s investor relations website.

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A badger stars in the Wildlife Photographer of the Year People's Choice Award 2024

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A badger stars in the Wildlife Photographer of the Year People's Choice Award 2024


Wildlife Photographer of the Year People’s Choice Award Winner

Back in November, the Natural History Museum, London, announced the winners of its 2024 Wildlife Photographer of the Year Award. Now, after a few months of voting, the winner of the People’s Choice Award has been announced along with four “Highly Commended” entries. There were 25 finalists for the People’s Choice Award, which were selected from 59,228 entries from 117 countries and territories.

The Wildlife Photographer of the Year is developed and produced by the Natural History Museum, London. Those in London can view an exhibition of the winning photographs in person through June 29, 2025.

Photo: Ian Wood (UK) / Wildlife Photographer of the Year

Image title: No Access

Caption: An ambling Eurasian badger, illuminated by a streetlight, appears to glance up at badger graffiti on a quiet road in England, UK. Residents of St Leonards-on-Sea had been leaving food scraps on the pavement for foxes, but Ian noticed that badgers from a nearby sett were also coming to forage. After seeing a badger walking along the pavement by this wall late one night, he decided to photograph it. He set up a small hide on the edge of the road to take this picture.

Wildlife Photographer of the Year People’s Choice Award Highly Commended

Francisco-Negroni -Wildlife-Photographer-of-the-Year

Photo: Francisco Negron (Chile) / Wildlife Photographer of the Year

Image title: Earth and Sky

Caption: A double lenticular cloud is illuminated at nightfall by the lava emitted from the Villarrica volcano, Chile. Villarica is in the town of Pucón in the south of Chile. It’s one of the country’s most active volcanoes and last erupted in 2015. Francisco takes regular trips to Villarrica to monitor its activity. On this visit, he stayed nearby for 10 nights. He says every trip is “quite an adventure – never knowing what the volcano might surprise you with”. Some nights are calm, others furious as in this photograph, where the brightness of the crater illuminates the night sky.

Wildlife Photographer of the Year People’s Choice Award Highly Commended

Jess-Findlay -Wildlife-Photographer-of-the-Year

Photo: Francisco Negron (Chile) / Wildlife Photographer of the Year

Image title: Edge of Night

Caption: A ghostly barn owl exits the hayloft window of a derelict barn to hunt in fields outside Vancouver, Canada. Jess quietly watched the owl for several nights to understand its habits. He set up an invisible beam that would trigger a flash when the owl flew out of the barn. Simultaneously, a slow shutter speed gathered ambient light cast on the clouds and barn. On the tenth night, all the moving parts came together as the owl left to begin its hunt.

Wildlife Photographer of the Year People’s Choice Award Highly Commended

Michel-d’Oultremont -Wildlife-Photographer-of-the-Year

Photo: Michel d’Oultremont (Belgium) / Wildlife Photographer of the Year

Image title: Whiteout

Caption: A stoat sits up and observes its territory as it blends perfectly into a snowy landscape in Belgium. Michel had been looking for stoats in the snow for many years. The magic of snowfall fascinates Michel every winter. He wanted to take a photograph that showed how the stoats blend in with the whiteness of the landscape. He’d seen a few in Switzerland but never in his native Belgium. Then, finally his dream came true. He lay in the snow with a white camouflage net covering all but his lens. This curious stoat came out of its snowy hole and sat up from time to time, observing its territory just before setting off to hunt.

Wildlife Photographer of the Year People’s Choice Award Highly Commended

David-Northall -Wildlife-Photographer-of-the-Year

Photo: David Northall (UK) / Wildlife Photographer of the Year

Image title: Spiked

Caption: A bloodied yet determined honey badger returns to finish off a Cape porcupine, which earlier had tried to defend itself. Found throughout Botswana, honey badgers are famously ferocious. They often chase animals many times their own size. This honey badger got an unpleasant surprise when it attacked the normally nocturnal Cape porcupine. The badger grabbed the porcupine’s right leg. In defence, the porcupine repeatedly backed into its attacker, piercing it with many quills. During a lull in the attack, the porcupine managed to shuffle away, its leg badly damaged. After a short retreat, the bloodied badger returned. It finished off the porcupine under a bush close to the original attack then dragged it into its underground den.



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This Leica-branded waterproof jacket costs $1,000 and it doesn't even have the red button

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This Leica-branded waterproof jacket costs ,000 and it doesn't even have the red button


Photo: Shackelton

It’s no secret that the Leica name demands steep prices. That holds true whether the gear in question is a camera or not, as is evident by a new collaboration between Lond-based performance apparel and guided expedition brand Shackelton and Leica Camera. The Frank Hurley Field Jacket was developed with Leica Camera and expedition photographer Levison Wood. The jacket’s name references the Australian photographer and adventurer, a member of the infamous Shackelton Expedition. As we would expect with the Leica name attached, it comes with a hefty $955 price tag.

Shackelton says waterproofing was the main focus when designing and testing this technical hardshell. As a result, it promises a fully waterproof design thanks to three-layer fabric and Aquaguard zippers to keep water out of pockets. It is interesting, though, that they skipped over well-known (and trusted) GORE-TEX materials for the shell, especially given the price tag. The Arc’Teryx or Norrøna offerings with Gore-Tex Pro certainly seem to make more sense for the price.

shackelton-frank-hurley-field-jacket-leica-model
Image: Shackelton

Of course, this isn’t the first time Leica has teamed up with a clothing company to create a jacket. Back in October, a collaboration between apparel brand Aether and Leica was announced, offering photographer-friendly details like pockets for camera batteries and SD card holders. It is also the second time Shackelton has collaborated with Leica. Interestingly enough, both jackets notably lack the red Leica circle, which seems like it should bring the price down at least a little.

Like the Aether jacket, the Frank Hurley Field Jacket offers features specific to photographers, but it is more focused on cold and wet weather in this case. That includes insulated battery pockets to protect battery life when working in cold conditions and a memory card case pocket. There are large cargo pockets with double folds for security and protection. A dedicated pocket also has a branded lens cloth on a retracting lanyard.

shackelton-frank-hurley-field-jacket-leica-inside
Image: Shackelton

The Aether jacket was a limited edition and sold out pretty quickly, but the Shackelton Frank Hurley Field Jacket seems to be a more permanent offering. If you’re gearing up for a polar expedition of your own (or a trip down the streets of London), it can be yours for $955 from the Shackelton website.



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Nikon's updating the P1000 with one important tweak

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Nikon's updating the P1000 with one important tweak


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Photo: Nikon

Nikon has announced an updated (albeit minimally) version of its P1000 24-3000mm equiv. superzoom compact. The Coolpix P1100 gains a USB-C socket, updated Bluetooth and a handful of relatively minor changes over the now-discontinued P1000.

When Nikon released the Coolpix P1000 in 2018, it offered something no other bridge camera did or has since: 125x optical zoom. That was well beyond the previous high water mark of 83x optical zoom in the Coolpix P900. The 125x zoom delivered an equivalent focal length of 24-3000mm from the camera’s 16MP Type 1/2.3 (6.2 x 4.7mm). It was bulky as a result of that lens, but the extensive reach made it a versatile choice for certain applications (though mainly for photographing the moon).

nikon-P1100-in-use-moon
The P1100 provides the same reach as the P1000, making it feasible to take photos of the moon.

Photo: Nikon

There was speculation that Nikon discontinued the P1000 because it wasn’t selling enough models due to smartphone competition. However, Nikon says that wasn’t the case, and it was selling enough units to make it worth continuing production, hence the new model. Zoom reach is one of the areas smartphones struggle to compete with, so it makes sense that the longest-zoom compact might remain comfortable in its niche.

Unfortunately, for fans of the P1000, the upgrades are minimal. The main focus of the P1100 is a USB-C port to meet the 2022 law that requires electronic devices sold in the EU to have the newer connector type.

nikon-P1100-with-remote
Photo: Nikon

In addition to the port, though, there are a few other small upgrades. Most notably is that it modernized the camera’s connectivity, moving to WPA3-SAE Wi-Fi for greater security and Bluetooth 5.1. The P1100 also enables Fn button operation from the ML-L7 Bluetooth remote, which the P1000 did not.

A change in CIPA’s stabilization standard sees the P1100’s rating drop to 4.0 stops of correction vs. the P1000’s 5.0 stops, despite the performance being identical. The flash’s guide number drops from 16 to 12m. Nikon added a new Fireworks Show Scene Mode and Long Exposure NR.

The P1100 will be available in late February for $1099; this is $100 more than the 2018 launch price of the P1000 but a match for the increased list price it gained mid-lifespan.

Press release:

REACH FOR THE STARS: NIKON RELEASES THE COOLPIX P1100 COMPACT DIGITAL CAMERA WITH AN EXTRAORDINARY 125X OPTICAL ZOOM

The Compact Camera That Sets the Gold Standard for Super Zooms

MELVILLE, NY (February 4, 2025) – Today, Nikon Inc. announced the COOLPIX P1100, a compact digital camera that features an incredible 125x optical super-telephoto zoom, with creative features that help users create amazing photos and videos from the most extreme distances.

The COOLPIX P1100 is a compact digital camera and offers further improvements in usability and connectivity. The COOLPIX P1100 covers a vast range of focal lengths beginning at the wide-angle 24mm equivalent, extending to the super-telephoto 3000mm 1 equivalent. If that is not enough, the P1100 is capable of going even farther, with up to a 250x 2 zoom when Dynamic Fine Zoom is enabled.

The COOLPIX P1100 makes it easy to enjoy the world of super-telephoto shooting with the ability to capture dynamic images of subjects that are difficult approach, including birds and celestial bodies. The camera features Dual Detect Optical VR, which achieves a level of vibration reduction equivalent to 4.0 stops 3 at the center of the frame, effectively suppressing camera shake when handheld shooting. The P1100 is also able to capture 4K UHD/30p and superlapse movie recordings, helping the user make creative videos of nature and
the night sky.

Further enhancements include a selectable AF-area mode in Bird-Watching Mode, and the same functions that can be assigned to the camera’s Fn button can now be assigned to the Fn1/Fn2 buttons on the optional ML-L7 Remote Control 4 . What’s more, a Fireworks option has been added to [Multiple exp. Lighten] scene mode. This function reduces instances of blown-out highlights that often occur when shooting long exposures, making it easier to capture impressively clear scenes of fireworks displays in which the brightness of the foreground or
the background differs.

Primary Features of the COOLPIX P1100

  • Incredible 125x optical zoom for super-telephoto performance up to a 24-3000mm equivalent.
  • Super ED and ED lens elements provide superior chromatic aberration compensation and deliver outstanding rendering capabilities across the entire zoom range, even with super-telephoto shooting.
  • Dual Detect Optical VR accurately suppresses the effects of camera shake with super-telephoto handheld shooting. This enables the capture of sharp and clear images of birds, celestial bodies, and other distant subjects at dynamic angles of view.
  • Bird-Watching and Moon modes can be accessed directly using the mode dial.
    Support for 4K UHD/30p movie recording lets users beautifully record subjects with the power of super-telephoto 3000mm equivalent. Frames from movies recorded in 4K UHD format can also be saved as still images.
  • Massive zoom, small size: Despite coverage of focal lengths up to 3000mm equivalent, the camera weighs only approx. 3.1 lbs. (1,410g), allowing users to enjoy super-telephoto shooting more comfortably than with DSLR and mirrorless camera systems.

Additional Features of the COOLPIX P1100:

  • The camera is equipped with a focus mode selector that can be used to change the focus mode even after it has been acquired, along with a control ring that enables the adjustment of settings such as white balance and manual focus.
  • Optional accessory ML-L7 Remote Control connects to the COOLPIX P1100 via Bluetooth®︎, and the same functions that can be assigned to the camera’s Fn button can be assigned to the remote.
  • A 3.2in. TFT LCD Vari-angle monitor with a wide-viewing angle makes it easy to compose handheld or on a tripod.
    Compatible with Nikon’s exclusive RAW (.NRW) format.
  • COOLPIX Picture Control 5 , which can be used to make adjustments in accordance with the subject, shooting situations and intentions.
  • Capability to record superlapse and time-lapse movies.
  • Support for Clean HDMI output 6 , which cleans the information display from the
  • image output to an external monitor during recording.
  • The ability to set long-exposure noise reduction to [Auto] or [Off].
  • Adoption of a USB Type-C input/output connector.
  • Compatible with the optional DF-M1 Dot Sight that facilitates image composition during telephoto shooting.

Price and Availability

The new Nikon COOLPIX P1100 will be available in late February 2025 for a suggested retail price of $1,099.95*. For more information about the latest Nikon products, including the large collection of NIKKOR Z lenses and the entire line of Z series cameras, please visit nikonusa.com.

Nikon Coolpix P1100 specifications

Price
MSRP $1,099
Body type
Body type SLR-like (bridge)
Sensor
Max resolution 4608 x 3456
Image ratio w:h 4:3
Effective pixels 16 megapixels
Sensor photo detectors 17 megapixels
Sensor size 1/2.3" (6.17 x 4.55 mm)
Sensor type BSI-CMOS
Processor Nikon Expeed
Color space sRGB
Color filter array Primary color filter
Image
ISO Auto, 100-6400
White balance presets 5
Custom white balance Yes
Image stabilization Optical
CIPA image stabilization rating 4 stop(s)
Uncompressed format RAW
File format
  • JPEG
  • Raw (NRW)
Optics & Focus
Focal length (equiv.) 24–3000 mm
Optical zoom 125×
Maximum aperture F2.8–8
Autofocus
  • Contrast Detect (sensor)
  • Multi-area
  • Center
  • Selective single-point
  • Tracking
  • Single
  • Continuous
  • Face Detection
  • Live View
Autofocus assist lamp Yes
Digital zoom Yes (4X)
Manual focus Yes
Normal focus range 30 cm (11.81)
Macro focus range 1 cm (0.39)
Screen / viewfinder
Articulated LCD Fully articulated
Screen size 3.2
Screen dots 921,000
Touch screen No
Screen type TFT LCD
Live view Yes
Viewfinder type Electronic
Viewfinder coverage 99%
Viewfinder resolution 2,359,000
Photography features
Minimum shutter speed 60 sec
Maximum shutter speed 1/4000 sec
Exposure modes
  • Program
  • Aperture priority
  • Shutter priority
  • Manual
Scene modes
  • Backlighting
  • Beach
  • Bird-Watching
  • Close-up
  • Dusk/Dawn
  • Easy Panorama
  • Fireworks Show
  • Food
  • Landscape
  • Moon
  • Multiple Exposure Lighten
  • Night Landscape
  • Night Portrait
  • Party/Indoor
  • Pet Portrait
  • Portrait
  • Scene Auto Selector
  • Selective Color
  • Snow
  • Soft
  • Sports
  • Sunset
  • Superlapse Movie
  • Time-lapse Movie
Built-in flash Yes
Flash range 12.00 m (at Auto ISO)
External flash Yes (via hot shoe)
Drive modes
  • Single shot
  • Continuous H
  • Continuous H 60
  • Continuous H 120
  • Continuous L
  • Interval timer
  • Pre-shooting cache
  • Bulb/time
Continuous drive 7.0 fps
Self-timer Yes (2 or 10 secs)
Metering modes
  • Multi
  • Center-weighted
  • Spot
Exposure compensation ±2 (at 1/3 EV steps)
AE Bracketing ±2 (3 frames at 1/3 EV steps)
WB Bracketing No
Videography features
Format MPEG-4, H.264
Modes
  • 3840 x 2160 @ 30p, MP4, H.264, AAC
  • 3840 x 2160 @ 25p, MP4, H.264, AAC
  • 1920 x 1080 @ 60p, MP4, H.264, AAC
  • 1920 x 1080 @ 50p, MP4, H.264, AAC
  • 1920 x 1080 @ 30p, MP4, H.264, AAC
  • 1920 x 1080 @ 25p, MP4, H.264, AAC
Microphone Stereo
Speaker Mono
Storage
Storage types SD/SDHC/SDXC (UHS-I support)
Connectivity
USB USB 2.0 (480 Mbit/sec)
USB charging Yes
HDMI Yes (micro HDMI)
Microphone port Yes
Headphone port No
Wireless Built-In
Wireless notes 802.11b/g + Bluetooth 5.1
Remote control Yes (via smartphone, Bluetooth remote, wired remote)
Physical
Environmentally sealed No
Battery Battery Pack
Battery description EN-EL20a lithium-ion battery and charger
Battery Life (CIPA) 250
Weight (inc. batteries) 1410 g (3.11 lb / 49.74 oz)
Dimensions 146 x 119 x 181 mm (5.75 x 4.69 x 7.13)
Other features
Orientation sensor Yes
Timelapse recording Yes
GPS None



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