Robin Wong: How Covid-19 Impacts Photography Industry – Will The Camera Companies Survive?

It’s a worrisome time and camera companies are suffering a terrific decline in sales. Here is Robin Wongs opinion on this:

Covid-19 pandemic has caused most parts of the world to be under lockdown. Businesses are forced to shut down and many have predicted the coming global economic crisis. I want to discuss what happens to the photography landscape from multiple point of views – from the camera makers to professional photographers and then the overall community in general. The most alarming question I have been asked, and quite frankly I have asked myself – will the camera companies survive?
For those of you who prefer to read than watch me rant on screen, here is an accompanying blog article: https://robinwong.blogspot.com/2020/0…

Panasonic reports “sluggish” digital cameras sales in Europe

Panasonic published the full 2020 financial report. There is nearly no mention about the camera business. All they say in the “Appliances” segment is this:

Sales decreased by 6% to 2,592.6 billion yen from a year ago. Despite increased sales such as room air-conditioners in Asia and large-sized air-conditioners in Japan, overall sales decreased due mainly to sluggish sales of TVs and digital cameras in Europe. Operating profit decr eased to 55.7 billion yen from a year ago due mainly to decreasedsales and restructuring expenses.

Tokina has announced the new development of the new 25-75mm T2.9 MFT lens

Press text:

Tokina Cinema introduces the 25-75mm T2.9 cinema lens. The new lens is a small size ground-up true cinema design featuring a compact 174mm overall length, industry standard 0.8 MOD cinema gears, T2.9 iris, 86mm filter thread, and 95mm front diameter for common cinema accessories.

he new 25-75mm T2.9 is designed to cover super35+ type sensors up to 36mm image circle size. The larger 36mm image circle enables native coverage of RED Helium 8K, RED Dragon 6K, RED Monstro 6K, Alexa LF in 4K UHD, as well as popular cinema and mirrorless cameras from Canon, Blackmagic Design, and Panasonic in 4K DCI or 4K UHD.

When paired with the Tokina Cinema 1.6x Expander for PL or EF mount versions, the lens becomes a compact size 40-120mm T4.2 that covers Full Frame and Vista Vision 6K and 8K size sensors.

Olympus exits camera business in Korea

This is a surprising news! And the reason behind it is speculated to be an ongoing anti-Japan sentiment and voluntary boycott movement against all Japanese products in South Korea.

Koreatimes reports this:

Olympus plans to exit its camera business in South Korea hit by decreasing sales, focusing instead on optical equipment for medical purposes and scientific equipment, the Korean branch of the Japanese manufacturer said Thursday.

In a statement, Olympus Korea said it will “cease its imaging business in Korea, effective June 30, 2020.” Its Brand Store, a store operated by Olympus Korea in southern Seoul, and its online shopping mall E-store will also be closed on the same day.

The company, however, added it will keep operating the service division until March 31, 2026. The division is responsible for repairing and exchanging Olympus products.

The Korean unit said the decision was mostly because of declining sales volume.

“Olympus Korea had made strenuous efforts to increase the profitability and efficiency of its imaging business by concentrating on mirrorless cameras, including OM-Dand PEN as well as interchangeable lenses. However, over the last few years, the market has sharply declined. As a result, it has become barely possible to sustain the business with profit, leading to the decision to withdraw the imaging business from the market,” the company said.

The company is moving its focus to providing diagnostic and therapeutic products for the medical business including medical endoscopes, laparoscopes and surgical devices. It also sells an integrated operating room system, which provides a touch-screen and voice-control system that allows surgeons to manage a range of medical devices more conveniently.

“Olympus Korea remains committed to contributing to make people’s lives healthier, safer and more fulfilling as a global med-tech company,” Naoki Okada, CEO of Olympus Korea, said in a statement.

Regarding whether the company’s move is in response to ongoing anti-Japan sentiment and voluntary boycott movement against all Japanese products in South Korea, an Olympus Korea official denied such speculation. Last year Japan removed South Korea from its list of preferred trading partners.

“Olympus Korea decided to wind out our camera business here on the background that the volume of the digital camera market is dwindling and the sales of our camera products are also decreasing,” the official said.

Koreans began the voluntary move to boycott goods and service made by Japanese makers when Tokyo announced it would start to impose tougher restrictions on exports of materials used for semiconductors and displays last July in reaction to Seoul’s top court ruling in October 2018 that ordered Nippon Steel to compensate surviving South Korean victims of wartime forced labor.

Very bad news. I hope this will nt happen in other countries too!

**This post contains affiliate links and I will be compensated if you make a purchase after clicking through my links.

As an Amazon Associate I earn from qualifying purchases