The President of Nikon, Makoto Kimura spoke of how a smart phone challenge has been facing his company. Camera sales have plummeted and so a massive effort must be made to regain the erstwhile market popularity its products enjoyed.
Nikon is facing hard times as its camera sales have faced a downward spiral. It seems that the name and fame that smart phones enjoy has been cutting into the profit shares of Nikon cameras. According to Bloomberg, this has become somewhat problematic. Therefore, the President of the company has sought alternative ways of increasing growth. Smart phone photography has become a new force that is rapidly taking over from the old, unwieldy method of using chunky cameras. The change has really shaken the display and imagery scene.
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That is why it is of paramount importance that Nikon find a response to this challenge. While Kimura didn’t go into the details, he did mention that a way had to be found fast since the competition was unrelenting. In fact he spoke of how the real task before them was making a product that didn’t resemble cameras in the first place. He gave a deadline of five years before which these products would enter the marketplace. While Nikon has been slow on the creative front, it did come up with an Android-based camera. The Coolpix S800c proved to be a failure though. It just didn’t measure up to media hype and consumer expectations. Kimura didn’t state directly that a smart phone will be in the pipeline. Yet the evidence points in that direction.
Nikon has been known for its ultra-conservative philosophy. Yet even it has to face the challenge of changing its moribund ways or packing up for good. In an extremely kaleidoscopic world that’s the way the cookie crumbles. The market for point-and-click cameras has been in a slump. Nikon has to act now or lose its pre-eminence as a world leader in photographic technology. The mushrooming of smart phones has caused a loss of balance for this sector of the economy.
With giants like Apple and Samsung gobbling up the profits, there is a clear danger to the traditional status quo from futuristic products. Kimura has even gone ahead and formed a committee to look into the matter. For now Nikon has its hands full. It will have to diversify its capabilities. Otherwise there is a chance that the future will turn out dystopian for the former Japanese kingpin in stylish cameras.