Imaging System Business Unit Competitors
Focusing on competitors in the digital camera market, Canon faces fierce competition from two main competitors: Nikon and Sony. Canon is first in the industry and strives to maintain its position. Due to the increase in smartphone users, the industry is turning to "advanced amateurs" and professionals in order to sell high-profit margin DSLR cameras.
Nikon
"Founded in 1917, Nikon supplied binoculars and optical gear to the Japanese military. After World War II the company focused on consumer products and in 1959 introduced its first SLR camera with an interchangeable lens, the Nikon F. Today it gets 84 percent of operating profit from imaging." (Bloomberg "Smartphone Cameras at 41 Megapixels Pressure Canon, Nikon")
As a result of the declining market, Nikon stock has decreased 34% in value. In addition, Nikon has been cutting prices in order to maintain sales in the shrinking camera market. They have also removed many products from their line-up. Models that were released only a year ago are already selling at a 64% discount. Unfortunately for Nikon, the decline has forced them to decrease net income projections by 30%.
As a result of the declining market, Nikon stock has decreased 34% in value. In addition, Nikon has been cutting prices in order to maintain sales in the shrinking camera market. They have also removed many products from their line-up. Models that were released only a year ago are already selling at a 64% discount. Unfortunately for Nikon, the decline has forced them to decrease net income projections by 30%.
Sony
Founded in 1946, Sony began as a researcher and manufacturer of telecommunications and measuring equipment. In 1981, the prototype of Sony's first camera was created and used to cover the Los Angeles Olympic Games through newspaper companies. The first consumer aimed camera was released in 1988. During 2013, 20% of the operating income was attributed to their imaging segment.
(Sony.net)
Although the market is declining, Sony managed to gain market share through the release of a mirrorless camera and by manufacturing cameras and components for mobile devices. On the other hand, Sony is experiencing huge losses in other segments. As such, they are projecting a net loss of $2.14 billion for the 2014 fiscal year. In addition, Sony is currently dealing with the aftermath of being hacked and having confidential information released.
(Sony.net)
Although the market is declining, Sony managed to gain market share through the release of a mirrorless camera and by manufacturing cameras and components for mobile devices. On the other hand, Sony is experiencing huge losses in other segments. As such, they are projecting a net loss of $2.14 billion for the 2014 fiscal year. In addition, Sony is currently dealing with the aftermath of being hacked and having confidential information released.
Financials
Due to the fact that Nikon is not listed on the New York Stock Exchange, the stock prices are from the Tokyo Stock Exchange where all three are listed. All currency shown is in Japanese Yen.