Digital Camera News: Nikon Profits Up, Kodak Moves to #1, Olympus Profits Down

Nikon Announces Quadrupled Profits

Nikon announced on Monday that the group operating profit totaled 13.94 billion yen for the April - June quarter.  During the same quarter last year, the profit was 3.13 billion yen.  The larger increase in Digital SLR sales has boosted this profit.  Many manufacturers  have been pushing the higher end cameras to avoid the high competition and low prices of lower end Point and Shoot cameras.  As a result of the healthy quater, Nikon increased its yearly outlook as well.

Kodak Moves Up

IDC is reporting that Kodak's market share in the U.S. digital camera market grew in the second quarter.  Their sales of cameras with printer docks pushed them ahead of Sony, who slipped to the number 3 position behind Canon.

With the cooling market for digital cameras - growth for all camera makers is at 20% this year, compared to 50% growth by this time last year - Kodak's strategy remains strong.  One in four cameras sold by Kodak came with a printer, solidifying the need for Kodak paper and ink.

And to continue with the financials...

Olympus Profits Drop

Olympus announced that its net profit dropped 62% in the April - June quarter due to sluggish digital camera sales.  Despite healthy profits from sales from endoscopes, the overall profits were brought down by digital cameras. 

Even with the profit drops, Olympus reiterated its profit forecast of 23 billion yen for the full year ending in March.

Olympus has blamed the lack of timely digital camera releases as a cause of poor profits, as their cameras aren't differentiated well and discounted to sell.  Also, they have a minimal presence in the Digital SLR market that has worked well for Canon and Nikon.