Nikon Releases Q3 Financial report

Nikon

has released its third quarterly financial report. The company has revealed that in its Imaging Products Business, efforts were taken to expand sales of mid to high-end products for the professional and hobbyist segments by launching the Z 7II and Z 6II, full-frame mirrorless cameras of new products in the Z series, and by expanding the product line-up of interchangeable lenses for mirrorless cameras. Nevertheless, reports suggest that the unit sales of digital cameras overall fell amidst the shrinking market, resulting in decreased revenue and profits. As for the business environment for the fiscal year ending March 31, 2021, Nikon says that the digital camera market is forecast to continue to shrink. The company also says that it will continue its efforts to expand the sales of mid to high-end products for the professional and hobbyist segments and has revised its FY2021 revenue and profit by JPY 5B, owing to ‘increased revenue and advanced business cost reductions’.