Nikon’s Imaging Product Business, which includes cameras and lenses, has earned more revenue than expected, according to Nikon’s latest financial results.

In the first half of its financial year so far, the division’s revenue rose to 114.5 billion yen and operating profit rose to 22.2 billion yen. Those are increases of 28.4% and 77.6%, respectively, compared to the first half of its 2022 financial year.

Nikon has benefited from the weaker yen, but also its strategic shift to more expensive, mid/higher-end cameras and lenses – which means a higher average selling price.

The firm expects the market size to grow as parts-procurement constraints ease, and will continue to focus on profitability and mid/high-end cameras targeting pros and hobbyists, according to its presentation materials. ‘(We) expect year-on-year revenue growth as sales, mainly of mirrorless cameras and interchangeable lenses, grow while overall sales volumes remain flat,’ the firm stated. For more details on the financial results, click here.

Fujifilm has also performed strongly, recording a 23.7% year-on-year increase in revenue and a 2.1x increase in operating income –sales of its Instax instant camera and printer range alone generated an impressive 119.1 billion yen.

The firm’s revenue has also been boosted by the launch of the higher-end X-H2 and X-H2S models. The Professional Image division, which includes these cameras and the premium-priced GFX medium format range, chalked up revenue of 64.3 billion yen– a year-on year increase of 18.6%. You can find out more by looking at the Fujifilm earnings presentations page.

See our special Christmas issue, on sale 20 December, for more analysis of the camera market during another turbulent year.

Featured image credit: Joshua Waller.

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