Nikon Announces Company Plans Moving Forward from Financial Crisis

Nikon Announces Company Plans Moving Forward from Financial Crisis

Following recent reports of their severe financial difficulties — and with them, the cancelation of a new line of premium compact cameras — Nikon announced to Japanese press new plans moving forward.

It was reported earlier this month that Nikon was to undergo a major company restructuring following “extraordinary losses” totaling approximately $465 million. But in a new press interview, executives at the imaging giant have unveiled a new strategy that will hopefully see them back on track.

Below is a direct translation from the Japanese press, which states the company will be adopting an “aggressive approach” moving forward, concentrating largely on medium and high-end DSLRs, mirrorless cameras, and lenses — and there are currently no plans to close any of their manufacturing plants.

 Note that the below was translated through Google Translate:

  • The Nikon camera business is undergoing a major restructuring.
  • "Bringing in multiple mirrorless cameras at an early stage" — to me this means announcing multiple mirrorless cameras soon
  • Nikon is taking an aggressive approach to rebuild their camera business
  • No plans for closing domestic or overseas manufacturing plants at the present time
  • In the future Nikon will concentrate their resources on medium to high-end DSLR cameras and lenses as well as mirrorless cameras
  • Nikon will have fewer models in the future
  • Nikon still wants to develop a high-end compact camera

[via Nikon Rumors]

Jack Alexander's picture

A 28-year-old self-taught photographer, Jack Alexander specialises in intimate portraits with musicians, actors, and models.

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35 Comments

Great news. Let's hope they do it right!

I still think they will eventually be acquired. I've used Nikon gear at work for many years and I've noticed their build quality has gone downhill year after year. Cutting corners to build cameras that while still taking gorgeous photos seem to fall apart pretty quick with moderate to heavy use.

I'd like to see Sony buy them since Nikon uses their sensors in a large portion of their bodies. Plus Sony seems to be doing a better job of listening to what their market wants and then providing something to fill that need rather than what the giants (Canon/Nikon) have done in make a camera and tell us why we want it.

I am using Nikon gear for 15 years now and never had any problems with it falling apart. I was not gentle neither. Five years ago I took my old D7000 one year around the globe, into deserts, heavy rain, mountain tops as high as 6088m above sea level, the Amazon rainforests, through seaside storms and so on. Even when it was completely soaked with salt water and stopped working I let it dry for a couple of hours and voila - back on tracks again.

The same thing holds true for my D810 which I am using now. Which camera did you use and what did you do that it fell apart?

Michael, which gear did you find falling apart? I own a TON of Nikon gear that I put through it's paces every day and I haven't had that problem all. If I can help comparing any piece I have with something giving you trouble I'll be glad to. Sorry for your trouble. I LOVE my Nikons, the new lenses have been outstanding. I can't wait to see what bodies they up their sleeves. I like what I'm hearing from the announcement about where their attention is now going to be focused.

I have only owned Nikon gear in my 12 year career (although I'm about to finally jump ship), and I can honestly say I've never had anything fall apart on me. I can't even say that the D200 I started on was built better than the D750 cameras I currently own. To be fair, I do upgrade cameras every 2 years but as a wedding photographer and owner of Fstoppers I have beat those cameras into the ground. Only once have I had a shutter stop working and that was after I sold the camera to a friend and she dropped it....I have still never had a shutter break on me millions of frames later.

There have been a few things here and there like the D750 hotshoe sizing, the D800 battery firmware lockup fiasco, maybe the D7000 green screen issue, but in general I see these types of problems across the board with every camera manufacturer.

I think the biggest problem Nikon faces is they are strictly a DSLR one show pony, and the DSLR is kind of dead at least from a photographic stand point. The D810 and D5 cameras leave me absolutely nothing to desire on the stills side of things (I still desire a lot with video).

Everyone has been focused on Mirrorless cameras the last few years but honestly, they should get rid of the shutter too and start making cameras that are 100% silent and capable of syncing strobes at any shutter speed. This would make the camera smaller and better in almost every way but honestly it still would only add functionality to professionals who even care about shutter sync speeds.

Patrick, FIRST love the work you and Lee do. I think I heard Lee say one or both of you were switching brands because of video. I love my D810's and like you I am becoming more and more focused on video. I get it. For me, the Nikons have been fantastic for me in all my still work. When traveling, I get the need for the smallest most powerful kit that does stills and video brilliantly (with all the video tools built in such as peaking/zebras/everything else.) I know when I travel without the Nikons I really miss them for stills. If I travel with the Nikons I wish I had move video centric stuff. I own a LOT of NIKON and love them, but I get what your needs are for sure.

Augh, yeah it's a sad thought of jumping. I wish Nikon wouldn't just do the bare minimum when it comes to video.

We recently got their D500 for 4k footage and the audio out jack for monitoring audio is distorted at all settings (tested on 3 cameras and they all did it and then saw two online reviewers come to the same conclusion). No focus peaking, no mirror up silent in-camera timelapse feature, no unlimited recording time, no options on compression or bit rate, no s-log, still no 120 frame rate even at 720 never mind 1080. The list goes on and on.

What's even more frustrating is the general sharpness from Nikon's video. We have done test after test comparing multiple Nikon cameras to Gopros, iPhones, Panasonics, Sony, etc and the Nikon 1080 looks so soft compared to the other cameras. When comparing the 1080 from the D500 and the D750, the D500 looked night and day better than anything we've seen before from Nikon but it's still not better than the competitors.

We are about to release a promo video we filmed for Gulf Photo Plus that was shot 90% on iPhones and Panasonic point and shoot cameras, and the footage is all WAY sharper and better than the footage shot on our D750s.

We have played with the GH5 a bit and what they have been able to do is absolutely amazing. The in camera stabilization along with lens stabilization allows you to produce almost steadicam quality footage handheld (can't wait to add the gimbal to that combo). The ISO is about the same as the D750 despite having a smaller sensor and you get a lighter weight camera and lenses. It also does some amazing crop modes which pretty much allows you to travel with a single 24 - 70 and produce every range from 24-300mm digitally.

Also what Sony has done with their A7s line is pretty awesome too. If Nikon would use a similar 10-12 megapixel sensor that produces noiseless ultra high iso photos and video, every single wedding photographer would buy at least 1 to go along with their high megapixel DSLR. The majority of people do not care about 24+ mp but they would love to shoot natural lit shots in the bar or extremely low light video. Nikon just doesn't get it but Sony does.

I think a few GH5 cameras and maybe a single A7s camera is what we will move to. I'm not sure if we will keep our D750 cameras for weddings or studio work but this marks the first time we will invest heavily in another system in our entire career.

I hear you. In my travel notebooks I have this entry a LOT: "Brought too much #@$%^ stuff! Figure this out." And so begins the compromises. I can not lug all the Nikon gear for stills and the Sony gear for video anymore. It's just too much. But I'm holding on to see what Nikon brings. Even if I use some other united brand solution for flying I think I'll still keep my Nikons for when I don't fly. Last thought on Nikon and video: Every time some of us post asking Nikon to please incorporate more than bare bones video, the thread get filled with guys who say "I don't want my Nikon to do video!". So, there's that.

Jump ship? To Canon?

Patrick - what are switching to? I am having the same issue with video and curious.

Panasonic GH5 cameras and maybe a single Sony A7sIII when it comes out.

Single SD card in the Sony would prevent many people from using it for paid work.

A whole range of them from the d800 down to the more glorified point and shoots. The rubber grips have never failed to fall off the body and the same goes for the rubber on the lenses. I see some down votes but all I did was post my personal experience. The cameras always work as far as taking great photos but the glue failing makes them annoying to handle and discouraging when looking to buy more gear. I could be a unique case but it was often enough with many different bodies and lenses that I feel like it was more Nikon than me.

Well now that you remind me, the rubber grip on the first 24-70 2.8 G was garbage. That focusing rubber has come loose on every copy of that lens I have owned or used. Can't say it's happened on any other lens though

Haha, yeah, had the same thing with mine. But then again a friend who used Canon lenses had the same thing going with her rubber grips.

I replaced my rubber after that year long trip, too, as it became loose. Thanks for reminding!

It is one of those things that wears down but that happens also on Canons as far as I know.

I've never owned a Sony camera but every comparison I've heard of goes along the lines of: Nikon build quality is great, Sony cameras feel like toys. ¯\_(ツ)_/¯

I don't think Sony feels like a toy. I actually love their 3 dial layout with the ISO, Shutter, and Aperture each having it's own dial (every camera should do this). The biggest problem I have with Sony is their battery life is horrible and the biggest problem I HATE is their file system. I see absolutely no reason to have folder after folder while files buried deep down depending on the codex. I don't know if Sony allows you to remove this ridiculous filing system but if not they really need to just throw every image and video into a single folder like everyone else does.

I'll add your review to my list. :-) I've never even held one. Personally, I could never use a mirrorless camera from any manufacturer but some people obviously benefit from, and like, them. Sony is very marketing oriented so I'd say they'll correct your complaints eventually.

I think they make sense for landscape, still life, some studio work, etc. They aren't as fast for sports or weddings but I think like anything you would get used to the digital viewfinder and other major deviations from a traditional dslr

Every photographer has a reason for engaging in it. For me, it's the ability to focus (pun intended) on God' creation. It doesn't matter if it's a person's face, a spring cascading down a mountain, or a drab looking bug. The ability to empty my mind of everything except that thing, and the ability to do so in a way my eyes are not capable of by themselves, is one of the few sources of peace I get. An EVF or LED screen doesn't get it done. The resulting photo is just a reminder of how I felt at the time.

I tried out Sony cameras before but I really dislike their digital viewfinder. Especially while moving fast there is always a certain visible delay. :(

I started with F3 HP. Since then I had F4s, F5s, F6 D1, D2, D70, D90 D3, D600, D800 , and D810. I am missing a couple of model names here . Multiple Flashes of every model from SB28 to SB910. All kind of Nikon professional accessories and lenses. I live in Greater Los Angeles and shoot from desert to sea. Never once had any issues whatsoever. You probably have a grudge against Nikon. I don't know the basis of it. You are dead wrong and seriously misleading.

Did it hurt you reading how I experienced using Nikon gear? I didn't say they take bad pictures. Just trying to connect my experience with their "financial crisis" and if you're offended by my innocent opinion then I hope you find a way to cope.

A quick Google search will confirm I'm not the only one who's experienced the rubber grips on my bodies falling off.

Nikon makes a high volume of each product. It would be impossible to assume that because it's your favorite camera company they never make mistakes.

I enjoy your site and frequent it daily,however I do not do video and could care less, the way I see it use a real video camera that's what they are for.I have been very satisfied with Nikon products however I only shoot the D700/D3/D300 combo at 12 megapixels.I do not require anything better for what I do.Personally my experience with Sony products has been poor and I especially do not support companies that abandon you as they chase the newest craze(yes I know Nikon uses Sony sensors in some of there cameras).Sony batteries are small and gutless to save weight and perpetuate the small myth as we all head to the gym to push weights and do tougher workouts and then whine when something weighs a little more.Canon also makes great products and I would have no issue using them.It all comes down to marketing.
Canon,Nikon,Apple,Toyota,Honda all good products with some occasional duds.I am sure their are many other products out there that measure up in quality.Just my opinion and everyone has one.

Well to be fair, the Sony battery is only like 1/4th the size of the Nikon battery. I don't think they are making it small for marketing. The real reason I think the battery life is poor is because it has to power the view finder and LCD screen so much. I haven't used other mirrorless so I don't know how they fare but I bet they could be similar.

I don't understand the idea that a DSLR can't be a "real video camera". The sensor on a dslr is leagues better than what most camcorders have and are bigger than most pro cameras like Red and Arri. In terms of depth of field and low noise at high ISO, DSLRs actually have the chance to be a leader in the video market. The main thing holding them back is form factor (if you need it), cine lenses, and software features. I think most of us are just asking for better software features which shouldn't detract from the stills photo users. In many cases the software/hardware changes could be better for stills shooters since video requires so much buffer, processing speed, data transfer, in camera stabilization, etc. I think there is room for both video and stills functionality in the DSLR without alienating those who only use the camera for one aspect of shooting.

Patrick,all great points! I appreciate your input here. So why do Sony and Canon not put better sensors in there video cameras?(Or other manufacturers)Cost?
Probably chasing multiple markets? I do not like to diss Nikon but I sometimes have to wonder if software and video are out of there league?It does not appear like they have pursed hiring competent people involved in software and video engineering aka Canon and Sony would have been miles ahead in that market having already been involved in mfg video cameras,so they have staff in place and have gone thru a lot of teething issues previously.

Now back to Sony's battery size,let's see power the viewfinder and lcd etc and let's make it 1/4 the size
exactly why it does not last long! I was at WPPI recently and part of the message(Sony was pushing)or I was getting was smaller, lighter,mirror less therefore better than a DLSR etc.However Fast glass is heavy and extra batteries add weight so why switch?And Sony has there sensors in some Nikon cameras.
I tried the Sony camera and have no issues with it personally,it becomes a matter of taste.
You are correct there are benefits of the crossover platform still and video in the same camera.
Enjoy your feedback.

I've been told that Nikon Japan are very proud people who like to innovate within their own company culture. They don't invite just anyone from the outside to help out. Even their Nikon Ambassadors don't have the weight you would think they would have in terms of offering up solutions to their problems. It seems to me, and I could be very wrong, that a lot of what is suggested is in one ear out the other when it comes to Nikon. Fstoppers would love to help them since we know the stills and video side of Nikon cameras very well, but rumor has it we pissed them off with our Nikon DF Hipster review. Guess they might not have a great sense of humor either....hopefully a DF II comes out soon :)

The weird thing about Nikon and your Software/Video question is that in terms of image quality, the D810 NEF file blows pretty much anything else out of the water. I'm sure the D820 will push that title even further now that Sony and Canon have cameras that are right even with the D810. Clearly Nikon can tweak Sony's sensors even better than Sony can so Nikon has the software engineers to make images look amazing. It doesn't seem impossible for them to do the same with video. I think as you suggested, Nikon just doesn't value video even though they jumped to release the D90 before Canon could release the 5DMKII.

As for Sony, they sit in a unique situation because they are using the same FF sensor they give to Nikon. This means that all their lenses are full frame, and yes, fast lenses are the same size if not larger than Nikon and Canon. This has it's up and downs. To me, the Sony A7s camera is a brilliant idea. Make the sensor large but few megapixels and make the whole thing noise free at extreme ISOs. I would have LOVED this direction on a Nikon DSLR and still suggest that 12-16mp for most applications is plenty. If wedding photographers could shoot noiseless images at ISO 102400 with no flash...that would be amazing!

I don't completely understand the limitations between pixel binning and down sampling, BUT, if Sony could make E mount lenses or adapters that would allow for smaller aps-c sized lenses to work then you could have the best of both worlds. The camera can take FF lenses but if weight and size is a priority (esp for video) you could crop into the sensor 1:1 and use much smaller lenses to save weight. I believe Sony already allows a 1.5x crop but what I'm talking about is even more extreme, but they would need new lenses to go along with this 1:1 or 1:2 crop factor. Otherwise, yes trying to say the A7s with a 24-70 2.8 lens is much lighter and easier to travel with than a traditional DSLR is crazy.

Truth be told, we have found that for video work we don't even need 2.8 lenses most of the times. We recently traveled with Elia Locardi around the world with the new Nikon D500 (which has a ton of issues btw) and brought a Tamron 18 - 270 3.5 - 5.6 lens with us. IT WAS AMAZING!!! One camera, one lens, and with the crop you get by shooting 4k and down sampling to 1080, we literally had like a 18mm - 550mm lens in one tiny package. We honestly rarely brought the 70 - 200 2.8 FF lens out of the bag. The only time it was needed was for low light situations which the telephoto was used less and less.

To even add more insult to injury, during our travel we discovered that the 4k video produced by our tiny Panasonic LX100 point and shoot camera looked better than the footage shot from the Nikon D500. Plus you could literally walk around town with a camera in your pocket. I think using that camera was when we realized that 95% of what we shoot video wise could be accomplished on a system 5x less expensive and 10x less weight while STILL giving us 2x the quality. It's crazy to even consider that idea. In some ways, our iPhone even out performs the larger DSLR cameras when it comes to video. Times are surely changing.

Nikon durability is amazing. I run a university journalism department with more than 100 Nikon DX and FX bodies (D3xxx, D7xxx, D6xx, D8xx) with pro FX lenses. We have only lost one body over 10 years (D70) with no lens losses (even kit lenses!). We occasionally send a camera in for repair and receive quick, responsive service. We get our sensors cleaned by NPS for free at news events. Students receive minimal training and beat the gear to hell. We ship camera kits over Fedex and airline baggage regularly. My JVC cameras get replaced every three years (switched from Sony due to durability problems). But, my Nikon gear keeps running until the sensors become obsolete. I'm going to keep buying about 20 Nikon FX bodies and 40 pro FX lenses a year.

I personally just don't like EVF, even with the WYSIWYG aspect of it... which is useless shooting in low light or with studio strobes. I like my fuji to travel with, I just won't do with out a DSLR. Nikon has had a few build issues over the past few years true, Ive only had issues with consumer level gear both a D5200 and a 70-300 4.5-5.6 lens that refuse to autofocus, but to me it seems many of the quirks like lack of real video capability, lockups, etc are all SOFTWARE fixes they need to hire TOP OF THE LINE software engineers to fix the majority of their problems (mirrorless would benefit here too) roll out frequent updates ala fuji.

FINALLY! For almost five years they have been doing "Business as Usual" using ancient strategies that assumes that their brand-name is indestructible and that there is very little competition. They did not take the competition, 4K and mirrorless seriously. Their losing strategy of super incremental upgrades makes existing users wait 2 generations to give them a reason to upgrade. I'm sure they retired their old-school senior management (who also seem to refuse to listen to user input unlike Fuji) and infused new creative blood into the roster. Hope it bears fruit soon... It may be too late but it's way better than doing nothing.

Just jumped ship from a D800 to Sony A7R2. I've been shooting Nikon for a good 6 years but need to upgrade for lighter weight when I travel, video capabilities, and more room for my drones as well.

Just a hypothetical question. What if Panavision or Arriflex bought Nikon? There are a lot of motion picture production applications for a DSLR type body.

So basically the new business model is to copy Sony :)

I've been a Nikon man for over 45 years and can honestly say i've never had a problem with bodies, lenses or any other equipment. Maybe this is unique but I would never move away from the company that enabled me to successfully earn a living as a photographer. I hope above all else, that Nikon's new restructuring plans for the future help them go from strength to strength. The name 'NIKON' is a brand name that exemplifies excellence and as far as i'm concerned that's what they should rely upon. Its a bit like comparing an Aston Martin Vantage S to a Fiat 500 (sorry Fiat!!!) The Fiat is mass produced at a low price to satisfy those who believe small and convenientce is best for owners who do not put in the long journeys or use it for business. The Aston is for more discerning customers. The same parallel can be ascribed to Nikon!!!

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