Turbulent times for Photography market leaders
While Nikon celebrated its 100th year in the sector, it has been faced with some hard realities. It had seen a 'loss of place and direction' in some of its recent releases, some of which have since been withdrawn from retail or production, including, most notably three Nikon DL cameras. This was pegged as being for profitability reasons - a very concerning report for such a giant in the industry. While a lot of their ability to respond to market forces was affected by the recent earthquakes in their production facilities, they have also identified a desire to restructure the 'DNA' of the middle management of the company.
Since then, this has prompted an entire renaissance in the company. Fans, and those who are bought into the system, will be very pleased to read that the top levels of the company are promising a complete restructure (already underway at time of writing). They have reaffirmed their faith in high quality DSLR's and market leading bodies.
On the other side of the coin, Canon have just undertaken a huge, company wide rebrand for their imaging attributes. Targeting the smartphone generations and aiming to cement a higher usage among young people, they have chosen to reaffirm themselves as a storytelling brand. But will their new campaign will prove to be an effective approach in such a fast paced, ever changing landscape? Time will tell!
We wish them both the best of luck,
- The Toggies Team