Camera
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 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.
Camera
March Editors' photo challenge announced: Water

While visiting Dry Tortugas National Park, located 109km west of Key West, Florida, I looked down from the top of Fort Jefferson and saw this group of snorkelers just off Garden Key. Moments after this photo was taken, one of the snorkelers had the bad luck of being stung by a Portuguese man o’ war.
Photo: Dale Baskin |
The theme for our March Editors’ challenge is ‘Water’.
Show us the essence of water in its many forms, from the roaring power of the ocean to a gentle rain, reflections on a lake, smooth waterfalls, frozen ice, or even fine art. The possibilities are endless, so let your creativity flow and show us your best photos that revolve around water. Our favorites will be featured on the DPReview homepage later this month.
This challenge is open to photos taken at any time.
Photos can be submitted between Sunday, March 16, and Saturday, March 22 (GMT).
Important: Images MUST include a title and a caption of at least 25 words to be eligible. Viewers want to know the story behind your photo. We will consider both photos and captions when selecting our winners, so make sure to tell us that story!
Visit the challenge page to read the full rules and to submit your photos for consideration as soon as the challenge opens.
Visit the challenge page to see all the rules
Camera
Accessory Roundup: lights, iPads, bags and more

Images: Vanguard, Apple, Elinchrom |
CP+ may have ended last week, but that apparently hasn’t stopped the flood of accessory news. Today, we’ll look at a few lights, bags, computers and more, but first, let’s see what’s on sale.
Second-gen Goodness
![]() |
Photo: Richard Butler |
Canon’s Stacked sensor flagship, the EOS R5 II, is currently on sale for $300 off MSRP. We reviewed it late last year, and came away very impressed – it’s a camera that excels at nearly everything.
![]() |
Photo: Richard Butler |
Panasonic’s S5II isn’t quite as performant, but it’s still quite a good camera. It’s also substantially cheaper than the EOS R5 II, especially given the current sale that gets you $500 off.
Let there be lights
![]() |
Image: Godox |
Godox’s latest light for videographers and photographers is the Litemons C30. It’s a tiny LED panel weighing 248g that packs an internal battery capable of putting out 30W of light for up to 45 minutes. A USB-C port lets you recharge the battery or run the light for an extended period of time.
There are two versions of the light – a bicolor model, which costs $59, and an RGB model that will run you $89.
![]() |
Image: Elinchrom |
If you need something a little more powerful, there’s the recently released Elinchrom LED 100 C, a continuous RGB light with an integrated 72Wh battery that provides up to 40 minutes of power in the field. It comes with a diffusion dome and an adapter for Profoto light modifiers and can be charged via USB-C.
On the level
![]() |
Image: Vanguard |
Ball-head tripods are great if you want to easily level your tripod without messing around with leg length, but what if you already have a tripod that you like? Vanguard’s LVL accessory might be for you. It’s designed to sit between your sticks and your tripod’s head, adding a bit of height and letting you level your tripod head in a matter of seconds.
Vanguard makes several sizes, so it should be compatible with a wide range of tripods. The smallest, the LVL 42, has a 42mm base and can support up to 20kg (44lb), while the LVL 75 can support up to 40kg (88lb) – just make sure the rest of your tripod can handle that much weight too.
In the bag
![]() |
Image: Wandrd |
If you want to carry around some camera gear without using a massive backpack, Wandrd’s Stratus Photo 18L may be the bag for you. It’s relatively small and has built-in organization for your camera gear, as well as access hatches on both the right and left-hand side. It’s made of weather-resistant materials and has load-adjustment straps and a chest strap, which should let you carry it comfortably even if you’ve got it filled with gear.
New affordable iPads
![]() |
Image: Apple |
People don’t always think of the iPad as a photographic tool, but nowadays Apple’s tablets have a lot of processing power and can run many of the apps photographers use on their desktops. The company’s entry-level models – the iPad Air and the plainly-named iPad – have just gotten updates that make them better than ever. The Air gets the laptop-class M3 chip, as well as a new, optional keyboard with a bigger trackpad, function row and aluminum design. The M3 iPad Air starts at $599, and the new keyboard costs $269.
The cheaper iPad, meanwhile, gets the A16 chip from the iPhone 14 and 14 Pro. While it’s not as powerful as the M-class chips and doesn’t support Apple’s suite of AI features, it should still be plenty for light photo editing and organization. Its base storage has also been doubled from 64GB to 128GB. It starts at $349, which is what its predecessor sold for ever since Apple cut the price by $100 in 2024.
That wasn’t all Apple announced this week, though…
Get caught up
Some accessory news is so big that it gets its own article during the week, but we’d feel remiss not also mentioning those products here.
![]() |
Image: Apple |
As an example, Apple’s new computers. The company announced updates to its entry-level MacBook Air and top-of-the-line Mac Studio this week, adding its latest processors. The MacBook Air has enough processing power to handle the typical Photoshop and Lightroom tasks that most photographers need, all while being hyper-portable, while the Mac Studio can handle the highest-end photo and video editing tasks.
![]() |
Image: Peak Design |
Also announced this week: Peak Design’s Roller Pro, the company’s first piece of roller luggage. It’s a bit of a hybrid between a hardshell case and a softshell one, with plenty of padding and a front sleeve that can hold a laptop and other everyday carry items. You can read our full coverage of it here.
It’s currently being sold via Kickstarter for a discount over its $599 MSRP, but the usual disclaimer applies: Remember to do your research with any crowdfunding project. DPReview does its best to share only the projects that look legitimate and come from reliable creators, but as with any crowdfunded campaign, there’s always the risk of the product or service never coming to fruition.
Camera
Sony's content authenticity system isn't just for pro cameras anymore

Photo: Richard Butler |
Sony has released a firmware update that brings its Content Authenticity Solution to the a7 IV. The company announced a similar update for the a1 II, a1 and a9 III in January. However, this is the first time the tool to authenticate images will be available on something other than high-end, professional-grade cameras.
Software Ver. 5.00 for the Sony a7 IV adds support for the “Write Digital Signature” function for still images. This function allows photographers to add an electronic signature to their images to prove that they were taken with that camera. Authenticity tools such as this are becoming increasingly important with the growing prevalence of generative AI-created imagery and, as a result, the spread of fake images.
Of course, as with the update for the three pro-grade cameras in January, there are some caveats involved. The Digital Signature function requires a paid license and is only available for certain media outlets, not the general public. Unfortunately, Sony still hasn’t provided any additional information on if or when it will be available for general consumers. On the firmware update page, Sony simply says that the “timing for the provision of paid licenses to customers other than certain media outlets is yet to be determined.”
Even though the current usability is limited, Sony rolling this out to consumer models is a step in the right direction. The Content Authenticity information page also says that “more camera models will be supported in due course,” so it sounds like we should see additional cameras with the tool at some point. If Sony makes the feature more widely available beyond media outlets, the Digital Signature feature will already be on cameras and ready for use.
If you want to be prepared, or happen to work for one of the select media outlets, the Sony a7 IV firmware update Ver. 5.00 is now available for download.
-
Solar Energy3 years ago
DLR testing the use of molten salt in a solar power plant in Portugal
-
TOP SCEINCE7 months ago
Searching old stem cells that stay young forever
-
Camera1 year ago
DJI Air 3 vs. Mini 4 Pro: which compact drone is best?
-
Indian Defense4 years ago
Israeli Radar Company Signs MoU To Cooperate With India’s Alpha Design Technologies
-
Camera1 year ago
Sony a9 III: what you need to know
-
world news1 year ago
Gulf, France aid Gaza, Russia evacuates citizens
-
world news5 months ago
Sirens trigger across central Israel following rocket barrage targeting Tel Aviv Iron Dome battery
-
Solar Energy1 year ago
Glencore eyes options on battery recycling project