Is this the end of Nikon as we know it? Fiscal report shows 71% drop in earnings

Digital Camera World:

As if there wasn’t already enough doom and gloom in the camera industry, Nikon has released its first quarter FY2020 financial results. Hit by a shrinking market and the initial costs of developing Z-mount lenses, Nikon has reported a huge 71% decrease in earnings and an almost 15% drop in revenue.

Nikon’s results presentation says that although it is enjoying steady sales of full-frame mirrorless cameras and interchangeable lenses, its revenue has been affected by the reduced sales of entry and mid-range DSLR cameras in Asia including China.

It’s not the end of Nikon — yet. But they have significant work ahead of them to weather this particular storm.